 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...  Federal Income, Estate and Gift Tax Laws, Correlated - Page 140by United States, Walter Elbert Barton - 1944 - 1242 pagesFull view - About this book
 | Walter Elbert Barton, United States, Carroll Wright Browning - 1925 - 580 pages
...gross income as defined in section 213, less the deductions allowed by section 214.04 SEC. 212. (b) The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner by which the net income exceeds... | |
 | 1924 - 1096 pages
...allowed by section 214 (Comp. St. Ann. Supp. 1923, § 6336ysg), and subdivision (b) thereof provides that the net income shall be computed upon the basis of...regularly employed in keeping the books of such taxpayer. Actual (235 F.) income was to be taxed — not constructive or hypothetical. The plaintiffs argue that... | |
 | John F. Sherwood - 1925 - 206 pages
...the same basis as his income. (b) The net income shall be computed upon the basis of the taxpayers' annual accounting period (fiscal year or calendar...no such method of accounting has been so employed, of if the method employed does not clearly reflect the income, the computation shall be made in accordance... | |
 | 1926 - 1038 pages
...taxation. Section 358 of the Tax Law (as amended by Laws 1921, c. 477, § 1) contains the following: "The net income shall be computed upon the basis of...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the tax commission does clearly reflect the... | |
 | United States. Board of Tax Appeals - 1926 - 1508 pages
...act, which is referred to in the abovequoted section, provides, in part, as follows : SEC. 212(b). The net income shall be computed upon the basis of...regularly employed In keeping the books of such taxpayer. (Italic ours.) From the foregoing it is clear that the receipt of income is essential to constitute... | |
 | United States. Board of Tax Appeals - 1926 - 1616 pages
...taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) io accordance with the method of accounting regularly employed in...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1927 - 414 pages
...income" means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis of...does not clearly reflect the income, the computation sluilt be made upon such basis and in such manner as in the opinion of the commissioner does clearly... | |
 | 1927 - 1146 pages
...computed, and reads as follows : "(Ъ) The net income shall be computed determining the proportion npon the basis of the taxpayer's annual accounting period...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
 | United States. Board of Tax Appeals - 1927 - 1530 pages
...shall not be allowed. Section 212 (b) provides as follows: The net income shall be computed upon tlie basis of the taxpayer's annual accounting period (fiscal...reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the Commissioner does clearly reflect the income.... | |
 | 1927 - 1158 pages
...basis as is provided in subdivision (b) of section 212 or in section 226." "Sec. 212. ••• (b) The net income shall be computed upon the basis of...employed, or if the method employed does not clearly _ reflect the -income, the computation shall be made upon such basis and in such manposit sufficiently... | |
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