 Whenever In the opinion of the Commissioner the use of Inventories is necessary In order clearly to determine the Income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary,...  Reports of the Tax Court of the United States - Page 307by United States. Tax Court - 1961Full view - About this book
 | United States. Court of Claims - 1936 - 940 pages
...of the Revenue Act of 1918, 40 Stat. C. 18, p. 1060, provides as to inventories as follows : " That whenever in the opinion of the Commissioner the use...inventories is necessary in order clearly to determine Opinion of the Court the income of any taxpayer, inventories shall be taken by such taxpayer upon such... | |
 | United States. Court of Claims - 1929 - 868 pages
...sales." If this were the case it would render nugatory the language of section 203, supra: " * * * Inventories shall be taken by such taxpayer upon such basis as the commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the... | |
 | New York Chamber of Commerce - 1919 - 784 pages
...Section 202 of the proposed War Pevenue Bill, which provides as follows : INVENTORIES Section 202 : "That whenever in the opinion of the Commissioner, the use...necessary in order clearly to determine the income of any tax payer, inventories shall be taken by such tax payer upon such basis as the Commissioner, with the... | |
 | 1926 - 1144 pages
...Act of 1918 (Сотр. St. Ann. Supp. 1919, § 6336%c), relative to inventories, is as follows: "That whenever in the opinion of the Commissioner the use...such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the... | |
 | 1919 - 246 pages
...is further emphasized in Section 203 of the War Revenue Law recently enacted, which reads, to-wit : "Whenever in the opinion of the Commissioner the use...order clearly to determine the income of any taxpayer, inventory shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of... | |
 | United States. Congress. Senate. Committee on Finance - 1918 - 660 pages
..."Sic. 302. Iurentorioa. — That whenever in the oiiinion of the commissioner the use of inventories IB necessary in order clearly to determine the income of any taxpayer, inventories shall be taktu by saoh taxpayer upon such' basis as the commissioner, with the approval of the secretary, may... | |
 | George Edwin Holmes - 1919 - 1048 pages
...fair market value as of that date) of the stock or securities exchanged. INVENTORIES Sec. 203. That whenever in the opinion of the Commissioner the use...such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the... | |
 | Guaranty Trust Company of New York - 1919 - 664 pages
...treated as taking the place of the stock, securities, or property exchanged. INVENTORIES SEC. 203. That whenever in the opinion of the Commissioner the use...such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the... | |
 | New York (N.Y.). Tax Commission - 1919 - 106 pages
...nineteen, if acquired before that date. § 356. Inventory. Whenever in the opinion of the comptroller the use of inventories is necessary in order clearly...shall be taken by such taxpayer upon such basis as the comptroller may prescribe, conforming as nearly as may be to the best accounting practice in the trade... | |
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