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" A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. "
Laws of the State of New York - Page 1433
by New York (State) - 1921
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United States Reports: Cases Adjudged in the Supreme Court, Volume 308

United States. Supreme Court - 1940
...computing net income there shall be allowed as deductions: . . . Depredation.A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction...
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Cases Decided in the United States Court of Claims, Volume 83

United States. Court of Claims - 1937
...business. The applicable section of the revenue acts of 1921 and 1924 is 214 (a) (8), which provides : (8) a reasonable allowance for the exhaustion, wear,...including a reasonable allowance for obsolescence. We can find nothing in these words of this section to indicate that the property must be held in an...
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Cases Decided in the United States Court of Claims, Volume 93

United States. Court of Claims - 1941
...income there shall be allowed as deductions: * * * (1) Depreciation. A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. Treasury regulations issued under the Revenue Act of 1936 are in part as follows : ART. 23 (1)-1. Depreciation....
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Cases Decided in the United States Court of Claims, Volume 111

United States. Court of Claims - 1948
...shall be allowed as deductions : (1) DEPRECIATION. A reasonable allowance for the exhaustion, wear and tear of property used In...Including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - 1919 - 1023 pages
...insurance or otherwise; (7) Debts ascertained to be worthless and charged off within the taxable year; (8) A reasonable allowance for the exhaustion, wear...reasonable allowance for obsolescence; (9) .In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed, or acquired,...
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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - 1919 - 30 pages
...insurance or otherwise; (7) Debts ascertained to be worthless and charged off within the taxable year; (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence; [149l (9) In the case of buildings, machinery, equipment, or other facilities, constructed, erected,...
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Taxation of Corporations and Personal Income in New York

Henry Montefiore Powell - 1919 - 400 pages
...1913, their value on that date must be established. (Art. 154.) Deductions allowable: depreciation. 8. A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence. (Source: Fed. Rev. Act 1918, 214, 0-8.) Depreciation. A reasonable allowance for the exhaustion,...
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Income Tax Law: Analysis and Comment

Harris, Forbes & co., New York - 1919 - 153 pages
...or profits upon which income tax has been imposed by Act of Congress; (7) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence ; (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,...
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Federal Taxes: Complete Digest of the Revenue Law, Fixing the Rates for 1918 ...

Ewell D. Moore - 1919 - 32 pages
...Debts ascertained to be worthless and charged off in the taxable year. 8. Reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. , Amortization Allowances on War Plants, Ships, etc. 9. In case of buildings, machinery, equipment,...
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Acts of the General Assembly of the State of Alabama

Alabama - 1919
...from a corporation which is taxable under this act upon its net income. (7) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence. (8) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...
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