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acquired addition adjustments agreed agreement Alaga allowed amount application assets balance basis Building capital cash claimed Commissioner Company construction contract corporation cost Court debts December decision deduction deficiency determined director distribution dividend earnings effect ended entered entitled estimated evidence excess expenses fact Federal filed fiscal follows gain gross income held Hill hold included income tax return interest Internal Revenue Code involved issue January John July June land lease liability liquidation loan loss March mortgage October operating opinion paid parties partnership payments percent period petitioner petitioner's present principal prior profits purchase question reason received record referred reported represented reserve residence respect respondent result rule sell shares Springfield stockholders taxable taxpayer term tion transfer trust United York
Page 895 - 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 774 - This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, and assigns.
Page 435 - ... traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business...
Page 306 - Newfoundland, and which satisfies the following conditions: ( 1 ) If 95 percent or more of the gross income of such domestic corporation for the three-year period immediately preceding the close of the taxable year (or for such part of such period...
Page 280 - The gain from the sale or other disposition of property shall be the excess of the amount realized therefrom over the adjusted basis provided in section 1011 for determining gain, and the loss shall be the excess of the adjusted basis provided1 in such section for determining loss over the amount realized. (b) Amount realized,. The amount realized from the sale or other disposition of property shall be the sum of any money received plus the fair market value of the property (other than money) received.
Page 318 - ... except such part thereof as may be shown to have originally belonged to such other person and never to have been received or acquired by the latter from the decedent for less than an adequate and full consideration in money or money's worth : Provided.
Page 349 - deficiency" means the amount by which the tax imposed by subtitles A or B exceeds the excess of — ( 1 ) The sum of (A) The amount shown as the tax by the taxpayer upon his return, if a return was made by the taxpayer and an amount was shown as the tax by the taxpayer thereon, plus (B) The amounts previously assessed (or collected without assessment ) as a deficiency , over — (2) The amount of rebates, as defined in subsection (b) (2), made.
Page 481 - Intervals) received after such decree In discharge of (or attributable to property transferred, In trust or otherwise, In discharge of) a legal obligation which, because of the marital or family relationship. Is imposed on or Incurred by the husband under the decree or under a written Instrument incident to such divorce or separation.