 | 1953 - 1028 pages
...Depreciation, depletion, and amortization of emergent? facilities? — Л reasonable allowance for exhaustion, wear and tear (including a reasonable...allowance for obsolescence) (1) of property used in trade or business or (2) property held for the E reduction of income, may be deducted, biwed on cost... | |
 | United States. Board of Tax Appeals - 1930 - 1554 pages
...allegation of error herein pertains to the failure and refusal of the respondent to allow any amount for the exhaustion, wear and tear, including a reasonable allowance for obsolescence of patents, contracts, good will and other intangible assets. We have already decided that the patents... | |
 | United States. Federal Power Commission - 1957 - 1082 pages
...Depreciation, as it appears in the Internal Revenue Code of 1954, provides, in pertinent part, as follows : (1) of property used in the trade or business, or (2) of property held for the production of income. (b) Use of Certain Methods and Rates. — For taxable years ending after December 31, 1953,... | |
 | United States - 1953 - 1744 pages
...have the meanings prescribed for such terms in section 591 of Title 18 of the United States Code. (0 . ( income. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States - 1965 - 1110 pages
...167. Depreciation. (a) General rule. There shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (including...business, or <2) of property held for the production of income. (b) Use of certain methods and rates. For taxable years ending after December 31, 1953, the... | |
 | United States. Tax Court - 1967 - 786 pages
...RULE. — There shall be allowed as a depreciation dednctlon a reasonable allowance for the eihauBtlon, wear and tear (Including a reasonable allowance for...obsolescence) — (1) of property used In the trade or business, • • • •Sec. 1.187(a)-8 Intangibles. If an Intangible asset Is known from experience... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1944 - 336 pages
...than a debt the loss from the worthlessness of which is incurred in the taxpayer's trade or business. (l) DEPRECIATION. — A reasonable allowance for the...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States, Walter Elbert Barton - 1944 - 1286 pages
...of said Act makes amendment applicable to taxable years beginning after Dec. 31, 1941. Sec. 23. (1) Depreciation. — A reasonable allowance for the exhaustion,...the trade or business, or (2) of property held for production of income. In the case of property held by one person for life with remainder to another... | |
 | United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 350 pages
...Revenue Act of 1942 (56 Stat. 820, § 123 (a) (2)) inserts "paragraph (2). of" before "subsection". (1) DEPRECIATION. — A reasonable allowance for the exhaustion,...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1946 - 428 pages
...debt the loss from the worthlessness of which is incurred in the taxpayer's trade or business. (1) DEPRECIATION. — A reasonable allowance for the exhaustion,...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction... | |
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There shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescence) — (1) of property used in the trade or business, or (2) of property held for the production... 
