 The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer ; but if...  Reports of the Tax Court of the United States - Page 302by United States. Tax Court - 1954Full view - About this book
 | North Carolina - 1927 - 800 pages
...318. Basis of return of net income. 1. The net income of a taxpayer shall be computed in accordance with the method of accounting regularly employed in keeping the books of such taxpayers; but if such method does not clearly reflect the income, the computation shall be made in... | |
 | 1927 - 1146 pages
...fiscal year. (1) The Revenue Act of 1918 requires the taxpayer's income to be computed in accordance with the method of accounting regularly employed in keeping the books of the taxpayer and regardless of whether the taxpayer's accounting period is a fiscal year or a calendar... | |
 | Virginia - 1928 - 328 pages
...taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer, but if no such method of accounting has been employed, or if the method employed does not clearly reflect... | |
 | United States - 1928 - 268 pages
...of the Secretary, a person who regularly sells or otherwise disposes of personal be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | United States - 1928 - 1164 pages
...taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | United States. Board of Tax Appeals - 1929 - 1604 pages
...material here, are as follows : The net jnoome shall be computed uix>n the basis of the taxpayer's animal accounting period * * * in accordance with the method...regularly employed in keeping the books of such taxpayer * * *. There can be no question but that a taxpayer is privileged to adopt any method of accounting... | |
 | Robert Hiester Montgomery - 1927 - 1510 pages
...212 of the Revenue Acts of 1918 and 1921 provides that the net income shall be computed in accordance with the method of accounting regularly employed in keeping the books of the taxpayer. Good accounting practice sanctions two methods of dealing with cash discounts. Under... | |
 | United States. Board of Tax Appeals - 1930 - 1608 pages
...amount of $10,751.67. Section 212 (b) of the Revenue Act of 1921 provides: The net income shall lie computed upon the basis of the taxpayer's annual accounting...regularly employed in keeping the books of such taxpayer * * *. The books of account are in evidence and we are well satisfied from them and from the other... | |
 | United States. Congress. Senate. Appropriations Committee - 1930 - 122 pages
...taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer, but if no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | United States. Congress. Senate. Committee on Appropriations - 1930 - 120 pages
...taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer, but if no such method of accounting has been so employed, or if the method employed does not clearly... | |
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