 | United States. Court of Claims - 1929 - 762 pages
...income-tax title shall be taken upon the basis determined by the Commissioner of Internal Revenue, as conforming as nearly as may be to the best accounting practice in the trade or business. (Congressional Record, volume 57, part 3, page 2987.) It appears from the above statement of the managers... | |
 | United States. Court of Claims - 1932 - 800 pages
...eminently practical and we think this is particularly true as to inventories which need only conform to the " best accounting practice in the trade or business and as most clearly reflect the income." Not only do we think good accounting practice would require the exclusion of the... | |
 | New York Chamber of Commerce - 1919 - 784 pages
...any tax payer, inventories shall be taken by such tax payer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming...trade or business and as most clearly reflecting the net income": therefore, be it Resolved, That the Chamber of Commerce of the State of New York recommends... | |
 | 1926 - 1144 pages
...any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming...business and as most clearly reflecting the income." From time to time the Treasury Department has adopted rules relative to inventories, all of them of... | |
 | 1919 - 246 pages
...of any taxpayer, inventory shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming...best accounting practice in the trade or business as most clearly reflecting the income." Now, gentlemen, that feature of the Revenue Act should certainly... | |
 | New York (State). Comptroller's Office - 1919 - 24 pages
...is conditioned that inventories shall be taken upon such bases as the comptroller may prescribe, (a) conforming as nearly as may be to the best accounting practice in the trade or business, (b) most clearly reflecting income and (c) conforming as nearly as practicable to the forms and methods... | |
 | George Edwin Holmes - 1919 - 1048 pages
...any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming...as most clearly reflecting the income. NET LOSSES Sec. 204. (a) That as used in this section the term "net loss" refers only to net losses resulting... | |
 | Guaranty Trust Company of New York - 1919 - 664 pages
...any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming...as most clearly reflecting the income. NET LOSSES SEC. 204.(a) That as used in this section the term "net loss" refers only to net losses resulting from... | |
 | George Edwin Holmes - 1919 - 1052 pages
...any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary may prescribe as conforming...trade or business and as most clearly reflecting the income,36 and gain or loss is determined in the case of property acquired on or after March 1, 1913,... | |
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Whenever in the opinion of the Commissioner the use of inventories is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary,... 
