 | Edgar Jacob Lauer, Victor House - 1921 - 488 pages
...there shall be allowed in deductions: — ". . . (8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence." " Nashville, C. & St. L. Jly. Co. v, United States, 269 Fed, R. 351, REASONABLE RENT 233 As used in... | |
 | New York (State). Public Service Commission - 1923 - 402 pages
...KnoxviUe Water Co., 212 US 1.) expenses," but also of " a reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence ". Treasury regulations provide in substantially the same manner as defined in the Commission's rules... | |
 | United States. Congress. House. Committee on Ways and Means - 1924 - 548 pages
...these paragraphs should be changed to read as follows: A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence. Leaseholds and intangible property the duration of which is limited in time shall be regarded as property... | |
 | United States. Bureau of Internal Revenue - 1921 - 772 pages
...income there shall be allowed as deductions : ******* (S) A reasonable allowance for the exhaustion wear and tear of property used In the trade or .business,...including a reasonable allowance for obsolescence. The same provision occurs in section 234(a)7 with respect to corporations. This Act was effective for... | |
 | National City Company - 1921 - 104 pages
...reserve has been permitted as a deduction. 85 "(8) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the... | |
 | United States. Internal Revenue Service - 1921 - 348 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; (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected. Installed,... | |
 | Rex Frye - 1921 - 350 pages
...worthless and charged off within the taxable year; (7) A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence; (b) In the case of a foreign corporation the deductions allowed in subdivision (a), except those allowed... | |
 | United States - 1921 - 642 pages
...refunded to the taxpayer in accord1 ance with the provisions of section 252 ; ber£ie?cs'°llwells'tlm" (9) In the case of mines, oil and gas wells, other natural deposits, Allowance for de- and timber, a reasonable allowance for depletion and for depreciation pletion,... | |
 | James Hinton Pou - 1922 - 1032 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... | |
 | Henry Clifford Spurr, Ellsworth Nichols - 1922 - 1016 pages
...only of so-called "ordinary expenses," but also of "a reasonable allowance for the exhaustion, wear and tear of property used in the trade or business,...including a reasonable allowance for obsolescence." Treasury regulations provide in substantially the same manner as defined in the Commission's rules... | |
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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... 
