 | 1927 - 1624 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... | |
 | United States. Tax Court - 1969 - 1194 pages
...obsolescence" which provided, in pertinent part, as follows: 1 Sec. 211. (a) That In computing net Income there shall be allowed as deductions : • •••••• (4) Losses sustained during the taxable year and not compensated for by Insurance or otherwise, If Incurred In trade or business ; • •»•*••... | |
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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... 
