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... Comparison of the Revenue Acts of 1934 and 1936 - Page 37by United States, United States. Congress. House. Committee on Ways and Means - 1936 - 290 pagesFull view - About this book
| United States. Tax Court - 1958 - 1382 pages
...regularly employed In keeping the books of roch taxpayer ; but If no such method of accounting baa been employed, or if the method employed does not clearly...computation shall be made In accordance with such method aa In the opinion of the Conunluioner does clearly reflect the Income. • • * does his 1953 return... | |
| United States. Tax Court - 1960 - 1484 pages
...taxpayer ; but If no such method of accounting has been so employed, or if the method employed docs not clearly reflect the Income, the computation shall be made In accordance with such method as In 'he opinion of the Commissioner does clearly reflect the income. • • * him in 1951, even though... | |
| United States. Tax Court - 1961 - 1230 pages
...such method of accounting has been so employed, or If the method employed does not clearly reflect Hie Income, the computation shall be made In accordance...the Commissioner does clearly reflect the Income. * • • or basis used is substantially in accord with the regulations. However, a method or basis... | |
| United States. Tax Court - 1962 - 1274 pages
...regularly employed In keeping the books of mch taxpayer ; but If no such method of accounting has been BO employed, or If the method employed does not clearly...Income, the computation shall be made In accordance with §uch method as In the opinion of the Commissioner does clearly reflect the Income. • • • SEC.... | |
| United States. Tax Court - 1954 - 1200 pages
...with the method of accounting regularly employed in keeping the books of such taxpayer ; but, * * * if the method employed does not clearly reflect the...the Commissioner does clearly reflect the income. * * * Until 1943 petitioner, as a part of its system of accounting and filing returns on an accrual... | |
| United States. Tax Court - 1947 - 1354 pages
...search has confirmed the admission. The law is that if a method of bookkeeping employed by a taxpayer "does not clearly reflect the income, the computation...the Commissioner does clearly reflect the income" (Section 41), and the real facts, not forms of entry, must measure the tax. But where interest actually... | |
| United States. Tax Court - 1945 - 1364 pages
...such method of accounting has, been so employed, or if the method employed does not clearly relleot the income, the computation shall be made in accordance...the Commissioner does clearly reflect the income. * * * Section 42, Internal Revenue Code, providing in part as follows : The amount of all items of... | |
| United States. Tax Court - 1962 - 1268 pages
...in keeping the books of such taxpayer" but if that method does not clearly reflect the income then "the computation shall be made in accordance with...the Commissioner does clearly reflect the income." Section 42 provides that all items of gross income shall be included in income under the method of... | |
| United States. Tax Court - 1980 - 1358 pages
...regularly used by the taxpayer in keeping his books, but that if that method does not clearly reflect income, the computation shall be made in accordance...opinion of the Commissioner, does clearly reflect income. Section 1.446-l(a)(2), Income Tax Regs., provides that: A method of accounting which reflects... | |
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