 | George Edwin Holmes - 1920 - 1186 pages
...off within the taxable year; (8) A reasonable allowance for the exhaustion, wear and tear of proper?? used in the trade or business, including a reasonable allowance for obsolescence: (9) In the case of buildings, machinery, equipment, or other facilities, eonstructed, erected, installed, or acquired,... | |
 | New York (State) - 1921 - 324 pages
...shipwrecks, or other casualty or from theft, and not compensated for by insurance or otherwise. 7. Debts ascertained to be worthless and charged off...a reasonable allowance for obsolescence. 9. In the ease of mines, oil and gas wells, other natural deposits and timber, a reasonable allowance for depletion... | |
 | Irving National Bank, New York - 1921 - 140 pages
...worthless and charged off within the taxable year. (8) Depreciation — A reasonable allowance for the exhaustion, wear and tear of property used in...for obsolescence. (9) In the case of mines, oil and gas wells and other natural deposits and timber the Act contains special provisions as to depreciation... | |
 | Edgar Jacob Lauer, Victor House - 1921 - 488 pages
...reads as follows: — "That in computing net income there shall be allowed in deductions: — ". . . (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence." " Nashville, C. & St. L. Jly. Co. v, United States, 269 Fed, R. 351, REASONABLE RENT 233 As used in... | |
 | United States. Internal Revenue Service - 1921 - 348 pages
...ALLOWED: DEPRECIATION. [KEc. 214. (a) That in computing net income there shall be allowed as deductions:] (8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence; I. 161. Depreciation. — A reasonable allowance for the exhaustion, wear and tear and obsolescence... | |
 | Rex Frye - 1921 - 350 pages
...of patent depreciation. Note Section 214 of the Act, where, among the "Deductions Allowed" is found: "(8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence." Art. 163 of Reg. 45, as modified by TD 2929 of October 7, 1919, includes: "Intangibles, the use of... | |
 | National City Company - 1921 - 104 pages
...is the first instance in our income tax laws where a reserve has been permitted as a deduction. 85 "(8) A reasonable allowance for the exhaustion, wear...including a reasonable allowance for obsolescence. In the case of such property acquired before March 1, 1913, this deduction shall be computed upon the... | |
 | United States. Bureau of Internal Revenue - 1921 - 772 pages
...computing net income there shall be allowed as deductions : ******* (S) A reasonable allowance for the exhaustion wear and tear of property used In the...including a reasonable allowance for obsolescence. The same provision occurs in section 234(a)7 with respect to corporations. This Act was effective for... | |
 | New York (State). Public Service Commission - 1923 - 402 pages
...(Cf. Knoxville v. KnoxviUe Water Co., 212 US 1.) expenses," but also of " a reasonable allowance for the exhaustion, wear and tear of property used in...including a reasonable allowance for obsolescence ". Treasury regulations provide in substantially the same manner as defined in the Commission's rules... | |
 | John F. Sherwood - 1921 - 282 pages
...occurs in connection with the mine itself because the coal is actually being removed and sold. In the case of mines, oil and gas wells, other natural deposits...and timber, a reasonable allowance for depletion and depreciation of improvements will be allowed according to the peculiar conditions in each case, based... | |
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A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence. 
