Reports of the Tax Court of the United States, Volume 34U.S. Government Printing Office, 1961 Final issue of each volume includes table of cases reported in the volume. |
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addition agreed agreement alginate amount assets bad debt bank base period basis bonds Boston Yanks capital gain cash cent claimed COMMISSIONER OF INTERNAL Company computed contract corporation cost Court death decedent decedent's December 31 deduction deficiency disallowed dividends Docket excess profits excess profits tax expenses filed follows funds garden tractors gate valve Glunts gross income Hedwig held hereinafter Hugo included income tax income tax returns interest Internal Revenue Code inventory issue January joint June June 30 lease liability loan loss ment Montgomery Ward net income Niederkorn October 31 operating ordinary income paid parties partnership Patent payable payments peti petitioner petitioner's policies prior production purchase purpose received respect respondent's section 23 sell shares sold stipulated stockholders supra taxable taxpayer tion tioner trade or business transactions transfer trust United York Bulldogs Zietz
Popular passages
Page 473 - partnership" includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation; and the term "partner" includes a member in such a syndicate, group, pool, joint venture, or organization.
Page 749 - In the case of a false or fraudulent return with intent to evade tax or of a failure to file a return the tax may be assessed, or a proceeding in court for the collection of such tax may be begun without assessment, at any time.
Page 105 - ... rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity...
Page 620 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer...
Page 330 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 278 - ... intended to take effect in possession or enjoyment at or after his death, or of which he has at any time made a transfer, by trust or otherwise, under which he has retained for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...
Page 736 - INCOME. The net income of the estate or trust shall be computed in the same manner and on the same basis as in the case of an individual...
Page 736 - ... the net income of the estate or trust the amount of the income of the estate or trust for its taxable year which is properly paid or credited during such year to any legatee, heir, or beneficiary...
Page 862 - For purposes of paragraphs (1), (2). and (3), a taxpayer on the accrual basis shall be deemed to have made a payment on the last day of the year of accrual If the payment is on account of such taxable year and is made not later than the time prescribed by law for filing the return for such taxable year (Including extensions thereof).
Page 850 - ... the principal purpose for which such acquisition was made is evasion or avoidance of Federal income tax by securing the benefit of a deduction, credit, or other allowance which such person or corporation would not otherwise enjoy, then such deduction, credit, or other allowance shall not be allowed.