 | United States. Bureau of Internal Revenue - 1921 - 772 pages
...computing net income there shall be allowed as deductions : ******* (S) A reasonable allowance for the exhaustion wear and tear of property used In the...including a reasonable allowance for obsolescence. The same provision occurs in section 234(a)7 with respect to corporations. This Act was effective for... | |
 | Emerson Emanuel Rossmoore - 1922 - 592 pages
..."That in computing net income there shall be allowed as deductions: ... (8) a reasonable allowance for the exhaustion, wear and tear of property used in...reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the basis of its... | |
 | United States - 1922 - 1028 pages
...from sources within the United States as determined under section 217 ; (7) A reasonable allowance for the exhaustion, wear and tear of property used in...reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the basis of its... | |
 | United States - 1922 - 756 pages
...part, the Commissioner may allow such debt to be charged off in part; (8) A reasonable allowance for the exhaustion, wear and tear of property used in...reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the basis of its... | |
 | United States. Congress. Senate. Committee on Commerce - 1922 - 1296 pages
...the authority of the Shipping Board. The revenue act allows the shipowner "reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence." This language has been somewhat narrowly construed by the Internal Revenue Department, so that the... | |
 | 1922 - 1010 pages
...this idea in providing 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... | |
 | United States. Federal Power Commission - 1922 - 332 pages
...usefulness." In Regulation 45, issued in 1920 and relating to the matter of deductions from income for the " exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence," as provided by the revenue act of 1918, it is said : " Depreciable property. — The necessity for... | |
 | Henry Clifford Spurr, Ellsworth Nichols - 1922 - 1016 pages
...this idea in providing 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... | |
 | 1922 - 500 pages
...that in computing net income there should be permitted as a deduction : A reasonable allowance for exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence. Article 161 of regulations 45 provides, furthermore, that * * * For convenience such an allowance will... | |
 | Irving Bank. Columbia Trust Company - 1923 - 148 pages
...part, the Commissioner may allow such debt to be charged oft in part; (8) A reasonable allowance for the exhaustion, wear and tear of property used in...reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the basis of its... | |
| |
A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. 
