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" If, during the taxable year, the recognized gains upon sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure,... "
Federal Income, Estate and Gift Tax Laws, Correlated - Page 314
by United States, Walter Elbert Barton - 1944 - 1242 pages
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Reports of the Tax Court of the United States, Volume 17

United States. Tax Court - 1952
...includes timber with respect to which subsection (k) (1) or (2) Is applicable. (2) GENERAL EI LI. — If, during the taxable year, the recognized gains...gains do not exceed such losses, such gains and losses •hall not be considered as gains and losses from sales or exchanges of capital assets. For the purposes...
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Reports of the Tax Court of the United States, Volume 17

United States. Tax Court - 1952
...whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or tbe threat or imminence thereof) of property used In the...capital assets. For the purposes of this paragraph : (A) In determining under this paragraph whether gains exceed losses, the gains and losses described...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 345

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1953
...year, the recognized gains upon sales or exchanges of property used in the trade or business . . . exceed the recognized losses from such sales, exchanges,...considered as gains and losses from sales or exchanges of capital assets. . . ." (Italics supplied.) See 26 USC §117(j). 544 Opinion of the Court. Assuming...
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Tax Cases Decided with Opinions by the Supreme Court of the United States

Congress. Internal Revenue Taxation Joint Committee - 1953
...year, the recognized gains upon sales or exchanges of property used in the trade or business . . . exceed the recognized losses from such sales, exchanges,...considered as gains and losses from sales or exchanges of capital assets. . . ." (Italics supplied.) See 26 USC § 117 (j). taxpayer to demonstrate that §...
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Internal Revenue Bulletin: Cumulative bulletin, Part 1, Volume 1

United States. Internal Revenue Service - 1964
...involuntary conversion of property used in the trade or business and capital assets held for more man six months into other property or money, exceed the recognized...or exchanges of capital assets held for more than six months. If such gains do not exceed such losses, such gains and losses shall not be considered...
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Reports of the United States Tax Court, Volume 20

United States. Tax Court - 1954
...income tax liability. The petitioner makes other contentions which will be referred to hereinafter. or Imminence thereof) of property used In the trade...capital assets. For the purposes of this paragraph : (A) In determining under this paragraph whether gains exceed losses, the gains and losses described...
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Reports of the Tax Court of the United States, Volume 22

United States. Tax Court - 1955
...or business and capital assets held for more than 6 months into other property or money, exceed tbe recognized losses from such sales, exchanges, and...considered as gains and losses from sales or exchanges of capital assets. * * * Section 324 of the Revenue Act of 1051 provides that the sentence dealing...
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Reports of the Tax Court of the United States, Volume 23

United States. Tax Court - 1956
...in part, theft or seizure, or an exercise of tbe power of requisition or condemnation or the throat or Imminence thereof) of property used In the trade...considered as gains and losses from sales or exchanges of capital assets. • • • by section 151 (b) of the Revenue Act of 1942, and are subject to the...
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Reports of the Tax Court of the United States, Volume 27

United States. Tax Court - 1957
...business, plus the recognized gains from the compulsory or Involuntary conversion • • • of property used In the trade or business and capital assets held...considered as gains and losses from sales or exchanges of capital assets. to do the actual hauling. The petitioner charges its customers a fixed tariff and...
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Reports of the Tax Court of the United States, Volume 27

United States. Tax Court - 1957
...• the recognized gains upon sales or exchanges of property used In the trade or business * • • exceed the recognized losses from such sales, exchanges,...considered as gains and losses from sales or exchanges of capital assets. • • • 8 27 TAX COURT OF UNITED STATES REPORTS. (99) tax noncapital security...
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