 | Real Estate Board of New York - 1920 - 112 pages
...income tax has been imposed by Act of Congress ; (7) A reasonable allowance for the exhaustion, -wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence; Items Not Deductible 12 Law Sec. 235. That in computing net income no deduction shall in any case be... | |
 | United States - 1920 - 1054 pages
...income tax has been imposed by Act of Congress; 1.7) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence; (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,... | |
 | United States - 1920 - 1052 pages
...any, shall be credited or refunded to the taxpayer in accordance with the provisions of section 252 ; in enumerated. The President shall determine and pay a jus e^tinea- timber. deposits, and timber, a reasonable allowance for depletion and for depreciation of... | |
 | United States - 1920 - 1064 pages
...any, shall be credited or refunded to the taxpayer in accordance with the provisions of section 252 ; (9) In the case of mines, oil and gas wells, other natural et^inea' timbCT. deposits, and timber, a reasonable allowance for depletion and for depreciation of... | |
 | Irving National Bank, New York - 1921 - 140 pages
...charged off within the taxable year. (8) Depreciation — A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...for obsolescence. (9) In the case of mines, oil and gas wells and other natural deposits and timber the Act contains special provisions as to depreciation... | |
 | New York (State) - 1921 - 324 pages
...taxpayer in a return rendered under this article. 8. A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...a reasonable allowance for obsolescence. 9. In the ease of mines, oil and gas wells, other natural deposits and timber, a reasonable allowance for depletion... | |
 | John F. Sherwood - 1921 - 282 pages
...occurs in connection with the mine itself because the coal is actually being removed and sold. In the case of mines, oil and gas wells, other natural deposits...and timber, a reasonable allowance for depletion and depreciation of improvements will be allowed according to the peculiar conditions in each case, based... | |
 | Louisiana (State). Assessment and Taxation Commission - 1921 - 294 pages
...allowance for the depreciation and obsolescence of property used in the trade or business; and, in the case of mines, oil and gas wells, other natural deposits,...and timber, a reasonable allowance for depletion; Provided, That in computing the deductions allowed under this paragraph, the basis shall be the cost... | |
 | National Tax Association - 1921 - 76 pages
...allowance for the depreciation and obsolescence of propertyused in the trade or business; and, in the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion ; Provided, That in computing the deductions allowed under this paragraph, the basis shall be the cost.... | |
 | Alzada Comstock - 1921 - 260 pages
...allowance for the depreciation and obsolescence of property used in the trade or business; and, in the case of mines, oil and gas wells, other natural deposits,...and timber, a reasonable allowance for depletion; Provided, That in computing the deductions allowed under this paragraph, the basis shall be the cost... | |
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A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence... 
