...unless it is desired to establish a net loss, in which case see Section 204 of the Revenue Act of 1921: (a) The proceeds of life insurance policies paid upon the death of the insured; (6) The amount received by the insured as a return of premium or premiums paid by him under life insurance,...

...loss on the disposition of property, see Chapter IV. of thi? book. "Under the Revenue Act of 1921, the proceeds of life insurance policies paid upon the death of the insured to any beneficiary (corporate or otherwise) are not to be included in the beneficiary's gross income."...

...(b) Does not include the following items, which shall be exempt from taxation under this title: (1) The proceeds of life insurance policies paid upon the death of the insured; (2) The amount received by the insured as a return of premium or premiums paid by him under life insurance,...

...(b) Does not include the following items, which shall be exempt from taxation under this title: (1) The proceeds of life insurance policies paid upon the death of the insured; (2) The amount received by the insured as a return of premium or premiums paid by him under life insurance,...

...(b) Does not include the following items, which shall be exempt from taxation under this title: 3 (1) The proceeds of life insurance policies paid upon...individual beneficiaries or to the estate of the insured f (2) The amount received by the insured as a return of premium or premiums paid by him under life...

...income" does not include the following items, which shall be exempt from taxation under this title : (1) The proceeds of life insurance policies paid upon the death of the insured ; (2) The amount received by the insured as a return of premium or premiums paid by him under life...

...(b) Does not include the following items, which shall be exempt from taxation under this title: (1) The proceeds of life insurance policies paid upon the death of the insured; (2) The amount received by the insured as a return of premium or premiums paid by him under life insurance,...

...included that the statute does not exempt, and the first item exempted is the proceeds of life-insurance policies paid upon the death of the insured to individual beneficiaries or their estates. The construction of the act by the Court of Claims fails wholly to give effect to the...

...value of property acquired by gift, becjuest, devise, or descent; and including the income from but not the. /proceeds of life insurance policies paid upon the death of the* person insured, or payments made or credited to the insured on. life Insurance endowment or annuity...

...included that the statute does not exempt, and the first item exempted is the proceeds of life-insurance policies paid upon the death of the insured to individual beneficiaries or their estates. The construction of the act by the Court of Claims fails wholly to give effect to the...