Reports of the U.S. Board of Tax Appeals, Volume 24U.S. Government Printing Office, 1932 - Taxation |
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Page 41
... invested capital determined in such amount . Section 326 of the Revenue Act of 1921 , which is the same as sec- tion 326 of the 1918 Act , provides that invested capital for any year means : ( 1 ) Actual cash paid in for stock ; ( 2 ) ...
... invested capital determined in such amount . Section 326 of the Revenue Act of 1921 , which is the same as sec- tion 326 of the 1918 Act , provides that invested capital for any year means : ( 1 ) Actual cash paid in for stock ; ( 2 ) ...
Page 41
... invested capital . La Belle Iron Works , 256 U. S. 377. The respondent's determination of invested capital must be approved . The respondent has determined depletion for each of the years involved on the basis of a March 1 , 1913 ...
... invested capital . La Belle Iron Works , 256 U. S. 377. The respondent's determination of invested capital must be approved . The respondent has determined depletion for each of the years involved on the basis of a March 1 , 1913 ...
Page 109
... invested capital for such year . The Revenue Act of 1921 was signed by the President of the United States at 3.55 p . m . on November 23 , 1921 . OPINION . MORRIS Section 229 of the Revenue Act of 1921 , which petitioner asserts is ...
... invested capital for such year . The Revenue Act of 1921 was signed by the President of the United States at 3.55 p . m . on November 23 , 1921 . OPINION . MORRIS Section 229 of the Revenue Act of 1921 , which petitioner asserts is ...
Page 116
... invested capital to be $ 362,986.47 . The respondent contends the petitioner does not meet the test , asserting that when correctly computed the net income is $ 62,495.48 and the invested capital is $ 760,437.59 . The difference in the ...
... invested capital to be $ 362,986.47 . The respondent contends the petitioner does not meet the test , asserting that when correctly computed the net income is $ 62,495.48 and the invested capital is $ 760,437.59 . The difference in the ...
Page 118
... invested capital based upon these facts discloses that the net income of the petitioner's business for the taxable year 1921 is more than 20 per centum of such invested capital . At the rehearing respondent amended his answer by ...
... invested capital based upon these facts discloses that the net income of the petitioner's business for the taxable year 1921 is more than 20 per centum of such invested capital . At the rehearing respondent amended his answer by ...
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acquired agreed agreement alleged allowed Amalgamated Sugar Company amount assessment assets basis beneficiaries Board bonds capital stock cash cent Centaur Company claimed COMMISSIONER OF INTERNAL common stock computing contract corporation cost Court death debts decedent December 31 deduction depletion depreciation determined disallowed distribution dividends Docket Executors expenses February 28 filed FINDINGS OF FACT follows gifts inter vivos gross income held included income tax income-tax return interest INTERNAL REVENUE inventory invested capital issue January June 30 lease lessee lessor liability Loew's Incorporated loss Lumber March ment net income operating opinion paid par value parties partnership payment period peti petitioner petitioner contends petitioner's preferred stock prior proceeding profits purchase Railroad real estate received respect respondent respondent's Revenue Act Robert Pitman Rule 50 shares sold statute stipulated stockholders supra surplus taxable income taxpayer thereof thereto tion tioner transfer trust wife