 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
 | United States. Board of Tax Appeals - 1927 - 1522 pages
...shall be computed upon its income as so returned. *' Section 212 (bj of the 1918 Act.is as follows : The net income shall be computed upon the basis of...such taxpayer ; but if no such method of accounting bus been so employed, or if the method employed does not clearly reflect the' income, the computation... | |
 | Virginia - 1928 - 328 pages
...963, sec. 9, subsec. 10.) Sec. 30. Computation of net income. — The income of the taxpayer shall be computed upon the basis of the taxpayer's annual...taxpayer, but if no such method of accounting has been employed, or if the method employed does not clearly reflect the true income of the taxpayer,, the... | |
 | 1928 - 1138 pages
...the taxable year on its indebtedness. • • • " Сотр. St. § 63361/spp (a). "Sec. 212. (b) The net income shall be computed upon the basis of...in keeping the books of such taxpayer; but * * * if the method employed does not clearly reflect the income, the computation shall be made upon such basis... | |
 | United States. Board of Tax Appeals - 1928 - 1582 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...accounting regularly employed In keeping the books of snch taxpayer ; but if no such method of accounting has been so employed, or If the method employed... | |
 | Robert Hiester Montgomery - 1919 - 1016 pages
...come" 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...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 - 1929 - 1562 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...taxpayer; but if no such method of accounting has bceu so employed, or if the method employed does not clearly reflect the income, the computation shall... | |
 | United States. Congress. Senate. Committee on Appropriations - 1930 - 120 pages
...computing net income from a fiscal year to a calendar year or vice versa. Section 212 (b) provides that: "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 does clearly reflect the income,... | |
 | United States. Congress. Senate. Appropriations Committee - 1930 - 122 pages
...computing net income from a fiscal year to a calendar year or vice versa. Section 212 (b) provides that: "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 does clearly reflect the income,... | |
 | United States. Board of Tax Appeals - 1930 - 1554 pages
...respondent was in error in adopting the fiscal year basis, instead of the calendar year basis. counting period (fiscal year or calendar year, as the case...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."... | |
| |
