 | United States. Congress. Senate. Committee on the District of Columbia - 1947 - 1798 pages
...shall be taken for the taxable year in which "paid or accrued" or "paid or incurred'', dependent upon the method of accounting upon the basis of which the net income is computed unless, in order to clearly reflect the income, the deductions or credits should be taken as of a different... | |
 | United States. Congress. Senate. Committee on the Judiciary - 1947 - 848 pages
...Tax] shall be taken for the taxable year in which paid or accrued or paid or incurred, deI>endent upon the method of accounting upon the basis of which the net income Is computed, unless in order to clearly reflect the income, the deductions, or credits should be taken as of a different... | |
 | United States. Congress. Senate. Committee on the Judiciary - 1947 - 904 pages
...Tax] shall be taken for the taxable year in which paid or accrued or paid or incurred, dependent upon the method of accounting upon the basis of which the net income is computed, unless in order to clearly reflect the income, the deductions, or credits should be taken as of a different... | |
 | 1970 - 360 pages
...months ending on the last day of any month other than December. (25) Paid or incurred, paid or accrued. The terms "paid or incurred" and "paid or accrued"...the method of accounting upon the basis of which the taxable income is computed under subtitle A. (26) Trade or business. The term "trade or business" includes... | |
 | 1954 - 1486 pages
...incurred” and “paid or accrued.” (a) The terms “paid or Incurred” and “paid or accrued” wifi be construed according to the method of accounting...upon the basis of which the net income is computed by the taxpayer. (See section 48 Cc).) The deductions and credits provided for in chapter 1 (other... | |
 | 1949 - 776 pages
...paid. (b) The term "paid" as used in this section means "paid or accrued" or "paid or Incurred" which shall be construed according to the method of accounting upon the basis of which the net income of the corporation Is computed. (c) Upon receipt of the returns by the collector, the schedules... | |
 | United States, Walter Elbert Barton - 1950 - 1126 pages
...last day of any month other than December. Sec. 48. (c) "Paid or incurred," "Paid or accrued."—The terms "paid or incurred" and "paid or accrued" shall...the basis of which the net income is computed under this Part. Sec. 48. (d) Trade or business. —The term "trade or business" includes the performance... | |
 | Congress. Internal Revenue Taxation Joint Committee - 1955 - 152 pages
...deduction for such second preceding taxable year without regard to such net operating loss." dependent upon the method of accounting upon the basis of which the net income is computed, unless in order to clearly reflect the income the deductions or credits should be taken as of a different... | |
 | United States. Internal Revenue Service - 1977 - 632 pages
...royalties arepaid or accrued. Section 7701 (a) (25) of the Internal Revenue Code of 1954 provides that the terms "paid or incurred" and "paid or accrued"...the method of accounting upon the basis of which the taxable income is computed under subtitle A. Section 446 (a) of the Code provides that taxable income... | |
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paid or incurred" and "paid or accrued" shall be construed according to the method of accounting upon the basis of which the net income is computed under section 212 or 232. The deductions and credits provided for in this title shall be taken for the... 
