 | United States. Court of Claims, Audrey Bernhardt - 1962 - 964 pages
...accounting on the basis of which the taxpayer regularly computes his income in keeping his books." However, "if the method used does not clearly reflect income,...Secretary or his delegate, does clearly reflect income." 324 Opinion of the Court year of receipt and should be taxed in that year regardless of the method... | |
 | United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1980 - 1224 pages
...income in keeping his books." Section 446 (b) provides, however, that if the method used by the taxpayer "does not clearly reflect income, the computation...be made under such method as, in the opinion of the [Commissioner] , does clearly reflect income." Regulations promulgated under § 446, and in effect... | |
 | United States. Tax Court - 1967 - 786 pages
...accounting on the basis of which the taxpayer regularly computes his income and keeps his books, but if the method used does not clearly reflect income,...be made under such method as in the opinion of the Commissioner does clearly reflect income. Section 1.446-1 (a) (2), Income Tax Regs., provides that... | |
 | 1974 - 544 pages
...the basis of which the taxpayer regularly computes his income In keeping bis books. (b) exception*. If no method of accounting has been regularly used...the taxpayer, or if the method used does not clearly refiect Income, the computation of taxable Income shall be made under such method as. In the opinion... | |
 | United States. Internal Revenue Service - 1968 - 1034 pages
...regularly computes his income in keeping his books. Section 446(b) of the Code provides, in part, that if the method used does not clearly reflect income,...Secretary or his delegate, does clearly reflect income. As to taxpayers employing the accrual method of accounting, consistent with the position stated in... | |
 | United States. Tax Court - 1961 - 1230 pages
...ACCOUNTING. (b) EXCEPTIONS. — If no method of accounting has been regularly used by the tax> ji.'i.vi-r, or If the method used does not clearly reflect Income,...Secretary or his delegate, does clearly reflect Income. •SEC. 837. GAIN OR LOSS ON SALES OR EXCHANGES IN CONNECTION WITH CERTAIN LIQUIDATIONS. (a) GENERAL... | |
 | United States. Tax Court - 1961 - 1220 pages
...has been regularly used by tbe taxpayer, or If tbe method used does not clearly reflect Income, tbe computation of taxable Income shall be made under...Secretary or his delegate, does clearly reflect income. •SEC. 337. GAIN OR LOSS ON SALES OR EXCHANGES IN CONNECTION WITH CERTAIN LIQUIDATIONS. (a) OKNERAL... | |
 | United States. Tax Court - 1962 - 1262 pages
...the basis of which the taxpayer regularly computes his Income In keeping his books. •Sec. 446(b). EXCEPTIONS. — If no method of accounting has been...Secretary or his delegate, does clearly reflect Income. •Sec. 1.446-1 (a) (4) (1), Income Tax Regs.: In all cases In which the production, purchase, or sale... | |
 | United States. Tax Court - 1962 - 1244 pages
...which the taxpayer regularly computes his Income In keeping his books. "Sec. 446(b). BXCEPTIONS. — If no method of accounting has been regularly used...Secretary or his delegate, does clearly reflect Income. •Sec. 1.446-l(a)(4)(l), Income Tax Regs.: In all cases In which the production, purchase, or sale... | |
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If no method of accounting has been regularly used by the taxpayer, or if the method used does not clearly reflect income, the computation of taxable income shall be made under such method as, in the opinion of the Secretary or his delegate, does clearly... 
