 | United States. Congress. Senate. Committee on Finance - 1954 - 1186 pages
...direct authority with respect to accounting methods. The Commissioner, however, does not present a "method as in the opinion of the Commissioner does clearly reflect the income" '" hut, instead, offers the election of such an accounting method. Tbe question has been raised, as... | |
 | United States. Tax Court - 1955 - 1498 pages
...present result seems to me to defy the plain language of section 41 that under these circumstances "the computation shall be made in accordance with such method as in the opinion of the • The quest Ion does not simply concern Income tax accounting. No stockholder would be satisfied... | |
 | United States. Congress. Senate. Select Committee on Small Business - 1956 - 134 pages
...method of accounting or if the method employed does not clearly reflect the income, the computation will be made in accordance with such method as in the opinion of the Commissioner does clearly reflect income. The absence of adequate records will not prevent the computation of income even if the Commissioner... | |
 | Congress. Internal Revenue Taxation Joint Committee - 1958 - 140 pages
...regularly employed in keeping the books . . . but ... if the method employed does not clearly reflect the income, the computation shall be made in accordance...the Commissioner does clearly reflect the income. . . ." 19 The pro rata allocation of the membership dues in monthly amounts is purely artificial and... | |
 | United States. Tax Court - 1960 - 1484 pages
...accounting has been so employed, or If the method employed does not clearly reflect the Income, tbe computation shall be made In accordance with such method as In the opinion of tbe Commissioner does clearly reflect the Income. • • • of total wages paid to waiters. On the... | |
 | United States. Tax Court - 1962 - 1244 pages
...books of the taxpayer, but if the method employed does not clearly reflect the income, the computatioo shall be made in accordance with such method as in the opinion of the Commissioner does reflect the income. Section 41. Two methods of accounting are generally recognized for income tax purposes.... | |
 | United States. Tax Court - 1962 - 1274 pages
...in keeping the books of such taxpayer" but if that nethod does not clearly reflect the income then "the computation shall be made in accordance with such method as in the opinion of :he Commissioner does clearly reflect the income." Section 42 provides that all items of gross income... | |
| |
... in accordance with the method of accounting regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income... 
