 ... 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.  Reports of the United States Tax Court - Page 216by United States. Tax Court - 1989Full view - About this book
 | United States. Board of Tax Appeals - 1926 - 1616 pages
...inventories shall be taken by such taxpayer upon such basis as the Commissioner, •with the approval of the Secretary, may prescribe as conforming as nearly...business and as most clearly reflecting the income. The Commissioner has prescribed, by regulations, that when an inventory purports to be upon the basis of... | |
 | 1926 - 1132 pages
...inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly...business and as most clearly reflecting the income." From time to time the Treasury Department has adopted rules relative to inventories, all of them of... | |
 | 1926 - 666 pages
...inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly...best accounting practice in the trade or business and most clearly reflecting income." Acting in pursuance of the authority thereby vested in him, the Commissioner... | |
 | United States. Board of Tax Appeals - 1926 - 1508 pages
...inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly...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,... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1927 - 414 pages
...inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly...business and as most clearly reflecting the income. (d) Distributions by corporations. — Distributions by corporations shall be taxable to the shareholders... | |
 | Eric Louis Kohler - 1927 - 618 pages
...inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly...business and as most clearly reflecting the income. NET LOSSES Sec. 206. (a) As used in this section the term "net loss" means the excess of the deductions... | |
 | United States. Board of Tax Appeals - 1927 - 1522 pages
...taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe aa conforming as nearly as may be to the best accounting...business and as most clearly reflecting the income. In accordance with the authority vested in him by this section, the Commissioner, in article 1583 of... | |
 | 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.... | |
 | United States - 1928 - 268 pages
...inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly...business and as most clearly reflecting the income. (d) Distributions by corporations. — Distributions by corporations shall be taxable to the shareholders... | |
 | United States - 1928 - 1164 pages
...the Secretary, may prescribe as conforming as nearly as §935 Note l TITLE 26.— INTERNAL REVENUE may be to the best accounting practice in the trade...business and as most clearly reflecting the income. (June 2, 1924, 4.01 p. т., с. 234, §205, 43 Stat. 260; Feb. 26, 1926, c. 27, 1 205, 44 Stat. 16.)... | |
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