 | Robert Hiester Montgomery - 1920 - 1304 pages
...clearly reflect the income." LAW. Section 212. (b) The net income shall be computed .... in accordance with the method of accounting regularly employed in keeping the books of such taxpayer,17 but if no such method of accounting has been so employed, or if the method employed does... | |
 | National City Company, United States - 1919 - 104 pages
...61-74)46. (b) 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)...basis and in such manner as in the opinion of the Commissioner does clearly reflect the income. If the taxpayer's annual accounting period is other than... | |
 | 1919 - 982 pages
...Revenue for dealing with special cases. For example, "the net income shall be computed ... in accordance with the method of accounting regularly employed in...basis and in such manner as in the opinion of the Commissioner does clearly reflect the income." The greatest power given to him is in the section dealing... | |
 | Alabama - 1919 - 1476 pages
...INCOME.— (a) Net income shall be computed upon the basis of the tax payer's annual accounting period, (fiscal year or calendar year, as the case may be),...accounting regularly employed in keeping the books of such tax payer, but if no such method of accounting has been so employed, or if the method employed does... | |
 | George Edwin Holmes - 1919 - 1052 pages
...first time requires net income to be computed on 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 employed in keeping the books of such taxpayer. If no method of accounting has been employed or it'... | |
 | Prentice-Hall Inc, Prentice-Hall, inc - 1919 - 640 pages
...commercial "net income." This appears from the fact that ordinarily it is to be computed in accordance with the method of accounting regularly employed in keeping the books of the taxpayer. As to the net income of corporations see section 232 and article 531. fl 522. Art. 22.... | |
 | Harris, Forbes & co., New York - 1919 - 164 pages
...method of accounting regular! employed in keeping the books of su<.h taxpayer; but if no such metho of accounting has been so employed, or if the method employed does n< clearly reflect the income, the computation shall be made upon such has and in such manner as in... | |
 | Henry Montefiore Powell - 1919 - 708 pages
...commercial "net income." This appears from the fact that ordinarily it ia to be computed in accordance with the method of accounting regularly employed in keeping the books of the taxpayer. (Reg. 45, Rev. Art. 21.) Computation of net income. reflect the income, the computation... | |
 | Guaranty Trust Company of New York - 1919 - 664 pages
...individuals. Net income means gross income less allowable deductions, and is determined in accordance with the method of accounting regularly employed in keeping the books of the taxpayer Net income is computed with respect to a fixed period, usually twelve months, such period... | |
 | George Edwin Holmes - 1919 - 1048 pages
...that income be so reported. It is expressly provided that net income shall be computed in accordance with the method of accounting regularly employed in keeping the books of a taxpayer; if no such method of accounting has been so employed or if the method of accounting does... | |
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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... 
