Reports of the Tax Court of the United States, Volume 7

Front Cover
U.S. Government Printing Office, 1946
Final issue of each volume includes table of cases reported in the volume.
 

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Page 572 - There shall be allowed as an additional deduction In computing the net Income of the estate or trust the amount of the income of the estate or trust for Its taxable year which Is to be distributed currently...
Page 571 - 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 375 - If, during the taxable year, the recognized gains on sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion...
Page 397 - If any part of any deficiency is due to negligence, or intentional disregard of rules and regulations but without intent to defraud. 5 per centum of the total amount of the deficiency (In addition to such deficiency) shall be assessed, collected, and paid in the same manner as if it were a deficiency, except that the provisions of section 571, relating to interest on deficiencies, shall not be applicable.
Page 681 - 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 20 - If property (as a result of its destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation, or the threat or imminence thereof...
Page 759 - To the extent of any interest therein of which the decedent has at any time made a transfer, by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power, either by the decedent alone or in conjunction with any person, to alter, amend? or revoke...
Page 425 - Immediately after the transfer an interest or control In such property of 80 per centum or more remained In the same persons or any of them, then the basis shall be the same as It would be In the hands of the transferor, Increased In the amount of gain or decreased In the amount of loss recognized to the transferor upon gueh transfer under the law applicable to the year In which the transfer was made.
Page 500 - reorganization" means (A) a merger or consolidation (including the acquisition by one corporation of at least a majority of the voting stock and at least a majority of the total number of shares of all other classes of stock of another corporation, or substantially all the properties of another corporation...
Page 416 - Is divorced or legally separated from her husband under a decree of divorce or of separate maintenance, periodic payments (whether or not made at regular intervals) received subsequent to such decree...

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