 There shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescence) — (!) of property used in the trade or business, or (2) of property held for the production...  Reports of the Tax Court of the United States - Page 100by United States. Tax Court - 1977Full view - About this book
 | Philippines - 1986 - 492 pages
...the sale or exchange, on the last day of such taxable year of capital assets. (f) Depreciation. (1) General rule. — There shall be allowed as a depreciation...allowance for the exhaustion, wear and tear (including reasonable allowance for obsolescence) of property used in the trade or business. In the case of property... | |
 | 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, Walter Elbert Barton - 1944 - 1286 pages
...applicable to taxable years beginning after Dec. 31, 1941. Sec. 23. (1) Depreciation. — A reasonable allowance for the exhaustion, wear and tear (including...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. House. Committee on Ways and Means - 1947 - 260 pages
...In computing net Income there shall be allowed as deductions : " ' ~ (1) Depreciation. A reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolesence) — (1) of property used In the trade or business ; or In the returns. In the long run... | |
 | United States. Congress. Senate. Committee on Interstate and Foreign Commerce - 1948 - 1066 pages
...23 (1), that there shall be allowed as a deduction from the gn» intake of a business "a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescence) of property used in the tnde or business or for the production of income." As a matter of regulation,... | |
 | United States. Congress. Senate. Committee on Interstate and Foreign Commerce - 1948 - 1064 pages
...23 (1), that there shall be allowed as a deduction from the gross intake of a business "a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescence) of property used in the trade or business or for the production of income." As a matter of regulation,... | |
 | 1970 - 750 pages
...corporation. § 1.167(a) Statutory provisions; depreciation; general rule. SBC. 167. Depreciation—(a) General rule. There shall be allowed as a depreciation...deduction a reasonable allowance for the exhaustion, wear and tear (1ncluding a reasonable allowance for obsolescence) — (1) Of property used in the trade... | |
 | United States. Congress. Economic Report Joint Committee - 1949 - 332 pages
...University Press, 1941, p. 214. 4 Again to quote the law, taxpayers annually may deduct "a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescencein) of property used in the trade or business, or (2) of property held for the production... | |
 | 1950 - 260 pages
...University Press, 1941, p. 214. 4 Again to quote the law, taxpayers annually may deduct "a reasonable allowance for the exhaustion, wear and tear (including...used in the trade or business, or (2) of property hold for the production of income." (IRC, sec. 23 (1)). 6 1. RC, sees. 113, 114 (a). There are exceptions... | |
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