 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. Court of Claims, Audrey Bernhardt - 1957 - 1100 pages
...only difference between plaintiff's method of accounting and the pure accrual 1 "I 41. General Rill,: "The net income shall be computed upon the basis of...taxpayer ; but If no such method of accounting has been BO employed or If the method employed does not clearly reflect the income, the computation shall be... | |
 | United States. Tax Court - 1957 - 1296 pages
...does not contend that section 44 of the Code has any application to the question which we have here. 'SEC. 41. GENERAL RULE. The net Income shall be computed...with the method of accounting regularly employed In keeping the booke of such taxpayer ; but If no such method of accounting has been so employed, or If... | |
 | United States. Tax Court - 1960 - 1484 pages
...the respondent's position was that McNairy was on an accrual basis and that this amount accrued to ' SEC. 41. GENERAL RULE. The net Income shall be computed...accounting has been so employed, or if the method employed docs not clearly reflect the Income, the computation shall be made In accordance with such method as... | |
 | 1927 - 1138 pages
...and reads as follows : 76 "(b) The net income shall be computed determining the proportion 77 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 - 1939 - 780 pages
...this chapter for other taxable years, see section 322. Part IV — Accounting Periods and Methods of Accounting SEC. 41. GENERAL RULE. The net income shall...may be) in accordance with the method of accounting regularlyemployed in keeping the books of such taxpayer; but if no such method of accounting has been... | |
 | 1927 - 1068 pages
...reads as follows : IB F.(2d) ТВ "(b) The net income shall be computed determining the proportion upon the basis of the taxpayer's annual accounting...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. Internal Revenue Service - 1928 - 406 pages
...revenue act of 1918 (40 Stat. 1064) provides: The net income shall be computed upon the basis of th« taxpayer's annual accounting period (fiscal year or...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.... | |
 | 1946
...sections in the prior income tax acts. The pertinent sections of the Code read as follows: SECTION 41— "The net income shall be computed upon the basis of...accounting has been so employed, or if the method does not clearly reflect the income, the computation shall be made in accordance with such method as... | |
 | 1922 - 1056 pages
...of the Tax Law gives the basis upon which the net income is computed. We quote from subdivision 1 : "The net income shall be computed upon the basis of...taxpayer; but if no such method of accounting has beeu so employed, or if. the method employed does not clearly reflect the income, the computation shall... | |
| |
