 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...  Reports of the Tax Court of the United States - Page 620by United States. Tax Court - 1961Full view - About this book
 | United States. Court of Claims, Audrey Bernhardt - 1956 - 1104 pages
...generally. • • • Taxes paid or accrued within the taxable year * * *. Sec. 41. Oeneral rale. The net income shall be computed upon the basis of the...regularly employed In keeping the books of such taxpayer • • •. Sec. 43. Period for which deductions and credits taken. The deductions ud credits •... | |
 | United States. Court of Claims - 1930 - 854 pages
...followed by him." * * * Section 212, above quoted, provides that " the net income of a taxpayer shall be computed upon the basis of the taxpayer's annual...regularly employed in keeping the books of such taxpayer." The plaintiff, as has been stated, used the accrual basis of accounting for the year 1919, as it had... | |
 | United States. Court of Claims - 1939 - 836 pages
...1926. The revenue acts in force during the taxable years, and prior thereto, provided that net income be computed upon the basis of the taxpayer's annual...accounting period in accordance with the method of Opinion of the Court accounting regularly employed by it in keeping its books, but that if the method... | |
 | United States. Court of Claims - 1934 - 914 pages
...otherwise provided by the law of the jurisdiction imposing such taxes ; * * *. " SEC. 212. (b) 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... | |
 | United States. Court of Claims, Audrey Bernhardt - 1955 - 908 pages
...which it employs. Section 41 states the general rule that net income shall be computed "in accordance with the method of accounting regularly employed in keeping the books" of the taxpayer. Section 43 provides that deductions and credits may be taken "for the taxable year in... | |
 | 1927 - 1070 pages
...6336%f) and section 212 of the Revenue Act of 1921 (Comp. St. § 6336ysf), providing as follows : "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... | |
 | 1919 - 246 pages
...with respect to bookkeeping, I want to read a section of the new revenue law defining net income: "The net income shall be computed upon the basis of the...regularly employed in keeping the books of such taxpayer. Where no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | Robert Hiester Montgomery - 1920 - 1304 pages
...clearly reflect the income." LAW. Section 212. (b) The net income shall be computed .... in accordance with the method of accounting regularly employed in keeping the books of such taxpayer,17 but if no such method of accounting has been so employed, or if the method employed does... | |
 | Henry Montefiore Powell - 1919 - 708 pages
...of a taxpayer less the deductions allowed by this article. § 358. Computation of net income. 1. 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... | |
 | National City Company, United States - 1919 - 104 pages
...defined in Section 213 (par. 48-60) less the deductions allowed by Section 214 (par. 61-74)46. (b) 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... | |
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