 The net income shall be computed upon the basis of the taxpayer's annual accounting period ( fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer...  Reports of the Tax Court of the United States - Page 162by United States. Tax Court - 1958Full view - About this book
 | 1920 - 36 pages
...commercial "net income." This appears from the fact that ordinarily it is to be computed in accordance with the method of accounting regularly employed in keeping the books of the taxpayer. COMPUTATION OF NET INCOME Net income must be computed with respect to a fixed period.... | |
 | New York (State) - 1921 - 324 pages
...article. (Added by L. 1919, chap. 627, in effect May 14, 1910.) § 358. Computation of net income. 1. The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year as the case may be) in accordance with the method of accounting regularly... | |
 | United States. Bureau of Internal Revenue - 1921 - 772 pages
...practice In the trade or business and as most clearly reflecting the income." Section 212(b) provides that — " The net Income shall be computed upon the basis of the taxpayer's annual accounting j>eriod, in accordance with the method of accounting regularly employed in keeping the books of such... | |
 | United States. Internal Revenue Service - 1921 - 348 pages
...means the gross income us defined in section 213, less the deductions allowed by section 214. , (b) The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly... | |
 | New York (State) - 1921 - 1090 pages
...congress known as the revenue act of nineteen hundred and eighteen. § 358. Computation of net income. 1. The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year as the case may be) in accordance with the method of accounting regularly... | |
 | Irving National Bank, New York - 1921 - 140 pages
...taxpayer's annual accounting period (fiscal year or calendar year as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer. Q. If no such method of accounting has been employed by the taxpayer, or if the method employed does... | |
 | United States. Congress. Senate. Committee on Manufactures - 1921 - 1278 pages
...exact methods of accounting. Section 212 of the law of 1918 provides that the taxpayer's net taxable income shall be computed upon the basis of the taxpayer's annual accounting period (iiscal year or calendar year, as the case may be), in accordance with the method of accounting regularly... | |
 | United States. Bureau of Internal Revenue - 1921 - 778 pages
...in section -'I'C. (Section 220 relates to change of the accounting period.) Section 212 (b) provides that: The net income shall be computed upon the basis of the taxpayer's anuual accounting period * * * in accordance with the method of accounting iv larly employed in keeping... | |
 | New York (State). Supreme Court. Appellate Division - 1922 - 1182 pages
...the Tax Law gives the basis upon which the net income is computed. We quote from subdivision 1 : " The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year as the case may be) in accordance with the method of accounting regularly... | |
 | Emerson Emanuel Rossmoore - 1922 - 592 pages
...(a) That in the case of an individual the term 213, less the deduction allowed by section 214. (b) The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly... | |
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