...business including: (3) rentals or other payments required to be made as a condition to the continued possession, for purposes of the trade or business,...is not taking title or in which he has no equity. As in the case of salary or compensation, section 162(a)(3) does not specifically limit deductions...

...(3) rentals or other payments required to be made as a condition to the continued use or |>osscssion, for purposes of the trade or business, of property...is not taking title or in which he has no equity. Petitioners recognize that the usual rule (applicable to cash as well as accrual basis taxpayers, see...

...any trade or business, including — ******* (3) rentals or other payments required to be made as a condition to the continued use or possession, for...of property to which the taxpayer has not taken or la not taking title or in which he has no equity. Claimed: Cash ront paid - .. . _ $15,900.00 $15,900...

...years under the provisions of section 162(aX3) as rentals or other payments required to be made as a condition to the continued use or possession, for...purposes of the trade or business, of property to which Railway, L & A, NBRD, Carthage, and Lindgren were not taking title or in which they had no equity....

...meaning where no tax plan is involved. We gain some help from the language of the statute. The language "property to which the taxpayer has not taken or is not taking title" (emphasis added) appears clearly enough to indicate that Congress had in mind an ongoing process in...

...162(a), "There shall be allowed as a deduction ... (3) rentals or other payments required to be made as a condition to the continued use or possession, for...purposes of the trade or business, of property to which taxpayer hoi not laten or is not taking title or in which he has no equity." (Emphasis added.) M &...

...§l62(a), "There shall be allowed as a deduction ... (3) rentals or other payments required to be made as a condition to the continued use or possession, for...purposes of the trade or business, of property to which taxpayer has not taken or is not taking title or in which he has no equity." (Emphasis added.) M &...

...condition to the continued use or possession, for purposes of the trade or business, of property to which taxpayer has not taken or is not taking title or in which he has no equity." (Emphasis added.) M & W Gear Co., 54 TC 385 (1970). T«t Lauiyer, Vol. 2J. No. 1 AGRICULTURAL ACCOUNTING...

...ordinary and necessary business expenses. Section 162(a) allows a deduction for certain business expenses including "rentals or other payments required to be...is not taking title or in which he has no equity." However, "The mere transfer of legal title to property * * * is not conclusive for Federal income tax...

...meaning where no tax plan is involved. We gain some help from the language of the statute. The language "property to which the taxpayer has not taken or is not taking title" (emphasis added) appears clearly enough to indicate that Congress had in mind an ongoing process in...