 | New York (State). Legislature - 1923 - 738 pages
...the deduction, not only of so called " ordinary expenses," but also of " a reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence ". Treasury regulations provide in substantially the same manner as defined in the Commission's rules... | |
 | American Electric Railway Association - 1923 - 490 pages
...The Acts of 1918 and 1921 make no reference to the charging off but allow a reasonable allowance for the exhaustion, wear and tear of property used in the trade or business and permit, in addition, a reasonable allowance for obsolescence. In 1914 (letter to Collectors... | |
 | Eric Louis Kohler - 1924 - 514 pages
...a debt is recoverable only in part, the Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the... | |
 | United States. Internal Revenue Service - 1924 - 396 pages
...INDIVIDUALS: DEPRECIATION [SEC. 214. (a) In computing net income there shall be allowed as deductions:] (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence ; ART. 161. Depreciation. — A reasonable allowance for the exhaustion, wear and tear, and obsolescence... | |
 | 1927 - 1150 pages
...tax imposed by section 230 there shall be allowed as deductions: * * * (7) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence." If hereunder the claimed deduction may not be made, there is no statutory warrant for it That the question... | |
 | Irving Bank-Columbia Trust Company - 1925 - 152 pages
...a debt is recoverable only in part, the Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence; (9) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance... | |
 | John F. Sherwood - 1925 - 206 pages
...a debt is recoverable only in part, the Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence; (9) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance... | |
 | 1925 - 1112 pages
...imposed by section 230 there shall be allowed as deductions: * * • (7) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence." If hereunder the claimed deduction may not be made, there is no statutory warrant for it That the question... | |
| |
A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. 
