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" A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. "
Comparison of the Revenue Acts of 1934 and 1936 - Page 24
by United States, United States. Congress. House. Committee on Ways and Means - 1936 - 290 pages
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Legislative Document, Volume 15

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...
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The State Department Reports of the State of New York, Volume 28, Issues 190-201

New York (State) - 1923 - 812 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...
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Comparison of the Revenue Acts of 1918 and 1921: With Index ...

United States. Congress. House. Committee on Ways and Means - 1923 - 256 pages
...ascertained to be worthless and charged off within the taxable year; (8) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence; (9) In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,...
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Self-proving Business Arithmetic

Thomas Theodore Goff - 1923 - 344 pages
...as (a) ordinary repairs required to keep property in usable condition, (6) reasonable allowance for exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence, and (r.) losses of business property by fire, storm, or other casualty, or theft, not compensated for...
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Accounting Principles Underlying Federal Income Taxes: 1924

Eric Louis Kohler - 1924 - 514 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...
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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - 1924 - 396 pages
...214. (a) In computing net income there shall be allowed as deductions:] (8) A reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence ; ART. 161. Depreciation. — A reasonable allowance for the exhaustion, wear and tear, and obsolescence...
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Investigation of Bureau of Internal Revenue: Hearings Before ..., Volumes 15-19

United States. Congress. Senate. Select Committee on Investigation of the Bureau of Internal Revenue - 1925 - 1446 pages
...computing net income there shall be allowed as deductions : * * ***** "(8) 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 23400 with respect to corporations. This act was effective for...
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American Federal Tax Reports, Volume 5

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...
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Questions and Answers on Federal Tax Laws: Based on Revenue Act of 1924 and ...

Irving Bank-Columbia Trust Company - 1925 - 152 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...including a reasonable allowance for obsolescence; (9) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...
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The Federal Reporter

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...
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