 Whenever in the opinion of the Commissioner the use of inventories is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary,...  Income Tax Procedure ... - Page 570by Robert Hiester Montgomery - 1925Full view - About this book
 | United States. Court of Claims - Law reports, digests, etc - 1929 - 868 pages
...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." We think that section 202 (a) (2) must be read in connection... | |
 | United States. Court of Claims - Law reports, digests, etc - 1929 - 762 pages
...title shall be taken upon the basis determined by the Commissioner of Internal Revenue, as conforming as nearly as may be to the best accounting practice in the trade or business. (Congressional Record, volume 57, part 3, page 2987.) It appears from the above statement of the managers... | |
 | New York Chamber of Commerce - Commerce - 1919 - 784 pages
...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 net income": therefore, be it Resolved, That the Chamber of Commerce... | |
 | Law reports, digests, etc - 1926 - 1144 pages
...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." From time to time the Treasury Department has adopted rules... | |
 | Lumber - 1919 - 246 pages
...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 as most clearly reflecting the income." Now, gentlemen, that feature of the Revenue Act should certainly... | |
 | New York (State). Comptroller's Office - Finance - 1919 - 24 pages
...conditioned that inventories shall be taken upon such bases as the comptroller may prescribe, (a) conforming as nearly as may be to the best accounting practice in the trade or business, (b) most clearly reflecting income and (c) conforming as nearly as practicable to the forms and methods... | |
 | George Edwin Holmes - Excess profits tax - 1919 - 1052 pages
...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,36 and gain or loss is determined in the case of property acquired... | |
 | Alabama - Law - 1919 - 1476 pages
...taken by such tax payer upon such basis as the State income tax supervisor may prescribe, conforming as nearly as may be to the best accounting practice in the trade or business, and most clearly reflecting the income, and conforming as far as may be to the form and method prescribed... | |
 | Henry Montefiore Powell - Corporations - 1919 - 708 pages
...inventories shall be taken by such taxpayer upon such basis as the comptroller may prescribe, conforming as nearly as may be to the best accounting practice in the trade or business and most clearly reflecting the income, and conforming so far as may be to the forms and methods prescribed... | |
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