 | Irving Bank-Columbia Trust Company - 1925 - 152 pages
...should inventories be valued? A. Under the Regulations of the Commissioner inventories (1) must comply as nearly as may be to the best accounting practice in the trade or business of the taxpayer, and (2) must clearly reflect the income. The bases of valuation most commonly used... | |
 | Wisconsin - 1925 - 796 pages
...processing within this state and everywhere" as used herein, shall be interpreted in a manner to conform as nearly as may be to the best accounting practice in the trade or business. Unless in the opinion of the tax commission the peculiar circumstances in any case justifies a different... | |
 | 1926 - 666 pages
...taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting...the trade or business and most clearly reflecting income." Acting in pursuance of the authority thereby vested in him, the Commissioner issued regulations... | |
 | 1926 - 1132 pages
...taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income." From time to time the Treasury Department has adopted rules... | |
 | United States. Board of Tax Appeals - 1926 - 1616 pages
...taxpayer upon such basis as the Commissioner, •with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. The Commissioner has prescribed, by regulations, that when an... | |
 | United States. Board of Tax Appeals - 1926 - 1508 pages
...taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business jmd as most clearly reflecting the income. In pursuance of the authority thus conferred upon the Commissioner,... | |
 | North Carolina - 1927 - 800 pages
...taxpayer, inventories shall be taken by such taxpayer, upon such basis as the Commissioner of Revenue may prescribe, conforming as nearly as may be to the...or business and most clearly reflecting the income. SEC. 322. Deductions. In computing net incomes there shall be allowed as deductions : 1. All the ordinary... | |
 | Eric Louis Kohler - 1927 - 618 pages
...taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. NET LOSSES Sec. 206. (a) As used in this section the term "net... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1927 - 414 pages
...taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. (d) Distributions by corporations. — Distributions by corporations... | |
 | Kurt Schmaltz - 1927 - 310 pages
...•Werden, daß sie anerkannten Buchhaltungsgrundsätzen des Geschäftszweiges entspricht (it must conform as nearly as may be to the best accounting practice in the trade or Business) . b) Die Bewertungsmethode muß von Jahr zu Jahr unverändert bleiben, wenn sie einmal festgelegt ist.... | |
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Whenever In the opinion of the Commissioner the use of Inventories is necessary in order clearly to determine the Income of any taxpayer, Inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary,... 
