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
| Virginia - 1928 - 1496 pages
...963, sec. 9, subsec. 10.) Section 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 emplyoed does not clearly reflect the true income of the taxpayer, the computation... | |
| United States. Tax Court - 1953 - 1374 pages
...wages, or compensation for personal service * • • SEC. 41. GENERAL RULE. The net Income shall he computed upon the basis of the taxpayer's annual accounting...taxpayer; but If no such method of accounting has been no employed, or If the method employed does not clearly reflect the Income, the computation shall be... | |
| United States. Internal Revenue Service - 1959 - 1518 pages
...a taxable year governed by the 1939 Code. Section 41 of the 1939 Code provides in part as follows: GENERAL RULE. — The net Income shall be computed...accounting regularly employed in keeping the books of guch taxpayer ; • • • Section 39.41-2 (c) of Regulations 118 provides in part as follows: A taxpayer... | |
| United States. Internal Revenue Service - 1955 - 1402 pages
...examination of the return * * • [Italics supplied.] Section 41 of the Code provides in part as follows : omputing net earnings from self-employment, * • « Section 42(a) of the Code provides in part as follows: The amount of all items of gross income... | |
| 1939 - 958 pages
...months in the period for which the return is made bears to twelve months. ACCOUNTING PERIODS SEC. 10. The net income shall be computed upon the basis of...accounting regularly employed in keeping the books of svch taxpayer; but if no such method of accounting has been so employed, or if the method employed... | |
| United States. Congress. Internal Revenue Taxation Joint Committee - 1933 - 262 pages
...IV— ACCOUNTING PERIODS AND METHODS OP ACCOUNTING Sec. 41. General rule. — The net Income shall lie computed upon the basis of the taxpayer's annual accounting...regularly employed In keepIng the books of such taxpayer; hut If no such method of accounting has been so employed, or if the method employed does not clearly... | |
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