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" All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered... "
Cases Decided in the Court of Claims of the United States - Page 146
by United States. Court of Claims - 1938
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Proposed Taxation of Individual and Corporate Incomes, Inheritances and ...

United States. Congress. House. Committee on Ways and Means - 1935 - 364 pages
...at the end thereof a new paragraph as follows: (g) UNDIVIDED PROFITS OF CORPORATIONS: Any portion of the net income of a corporation subject to the tax imposed by section 13 (a) of this Act remaining undistributed at the close of its taxable year shall be accounted for...
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Revenue Act of 1935: Hearings Before the Committee on Finance, United States ...

United States. Congress. Senate. Committee on Finance - 1935 - 422 pages
...the end thereof a new paragraph, as follows: (g) Undivided profits of corporations: Any portion of the net income of a corporation subject to the tax imposed by section 13 (a) of this act remaining undistributed at the close of its taxable year shall be accounted for...
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United States Reports: Cases Adjudged in the Supreme Court, Volume 297

United States. Supreme Court - 1936 - 828 pages
...amortized in annual instalments during their term. Section 234 (a) of the Revenue Act of 1924 4 directs that in computing the net income of a corporation subject to the tax there shall be allowed as deductions ordinary and necessary expenses paid or incurred during the taxable...
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Treasury Decisions Under Internal Revenue Laws ..., Volume 20, Issues 2628-2782

United States. Internal Revenue Service, United States. Office of Commissioner of Internal Revenue - 1921 - 632 pages
...JUSTICE, Washington, October 29, 1920. Section 234 (a) (9) of the act of February 24, 1919, provides: (a) That in computing the net income of a corporation...subject to the tax imposed by section 230 there shall bo allowed as deductions: (9) In the case of mines, oil and gas wells, other natural deposits, and...
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Reports of the Tax Court of the United States, Volume 3

United States. Tax Court - 1945 - 1374 pages
...oğ YEAH. — The accumulated earnings and proflta as of the beginning of such taxable year ; * * * 1 SEC. 234. (a) That in computing the net Income of...corporation subject to the tax Imposed by section 230 there sball be allowed as deductions : • ***•** (14) If property is compulsorily or involuntarily converted...
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American Law Reports Annotated, Volume 49

1927 - 1680 pages
...particular portions thereof are parts of § 234 (a), being Сотр. Stat. § 6336J pp, reading as follows : "That in computing the net income of a corporation subject to the tax imposed by § 230 there shall be allowed as deductions : " (4) Losses sustained during the taxable year and not...
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Reports of the Tax Court of the United States, Volume 3

United States. Tax Court - 1945 - 1366 pages
...TiAB. — The accumulated earnings and profits tğ of the beginning of such taxable year : • • • 'SEC. 234. (a) That In computing the net Income of...by section 230 there shall be allowed as deductions : • •••*•• (14) If property Is compulsorily or Involuntarily converted Into cash or Its...
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Chicago Daily News Almanac and Political Register

1919 - 1138 pages
...representing profits on the manufacture and disposition of goods within the United States. Deductions Allowed. Sec. 234. (a) That in computing: the net income of...section 230 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on...
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Treasury Decisions Under Internal Revenue Laws of the United States, Volume 29

United States. Internal Revenue Service - 1928 - 406 pages
...applicable statute here is section 234 (a) (5) of the revenue act of 1918 (40 Stat. 1077, 1078) as follows: SEC. 234. (a) That in computing the net income of...section 230 there shall be allowed as deductions: ******* (5) Debts ascertained to be worthless and charged off within the taxable yew; Under this statute,...
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The Journal of Political Economy, Volume 29

1921 - 902 pages
...the criticism which follows applies to both individuals and corporations. The law provides: SECTION 234. (a) That in computing the net income of a corporation...section 230 there shall be allowed as deductions: (9) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...
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