 | United States. Supreme Court - Courts - 1940 - 894 pages
...net income there shall be allowed as deductions: . . . Depredation.—A reasonable allowance for the exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Court of Claims - Law reports, digests, etc - 1928 - 766 pages
...computing net income certain deductions shall be allowed, among others, "(8) A reasonable allowance for the exhaustion, wear, and tear of property used in the...including a reasonable allowance for obsolescence," and plaintiff contends that she should be allowed the benefit of this provision. The question has been... | |
 | United States. Court of Claims - Law reports, digests, etc - 1948 - 886 pages
...be allowed as deductions : » • • • • (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear of property used In the...Including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Court of Claims - Law reports, digests, etc - 1945 - 952 pages
...net income there shall be allowed as deductions : (I) Depreciation. A reasonable allowance for the exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | Mineral industries - 1919 - 528 pages
...cent, for subsequent years. In this law, depreciation is covered by "a reasonable allowance for the exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence," while with respect to depletion, the law provides, In the case of mines, oil and gas wells, other natural... | |
 | New York (State). Comptroller's Office - Finance - 1919 - 24 pages
...charged off within the taxable year. (Section 360, subdivision 7) (g) A reasonable allowance for the exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence. (Section 360, subdivision 8) (h) Taxes other than income taxes, paid or accrued within the taxable... | |
 | Ewell D. Moore - Taxation - 1919 - 44 pages
...a personal service corporation out of profits on which income tax has been imposed by Congress; 7. Reasonable allowance for exhaustion, wear and tear...including a reasonable allowance for obsolescence. Amortization of Costs on War Plants. 8. On buildings, machinery, equipment, or other facilities constructed,... | |
 | Guaranty Trust Company of New York - Canada - 1919 - 664 pages
...if purchased at a premium. Depreciation and Obsolescence Individuals and corporations may deduct a reasonable allowance for exhaustion, wear and tear...including a reasonable allowance for obsolescence. For convenience, this allowance is usually referred to as covering depreciation, excluding from the... | |
 | Harris, Forbes & co., New York - Income tax - 1919 - 164 pages
...profits upon which income tax has been imposed by Act of Congress; (7) A reasonable allowance for the exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence ; (8) In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed,... | |
 | National City Company, United States - Internal revenue law - 1919 - 104 pages
...ascertained to be worthless and charged off within the taxable year ; 69. (8) A reasonable allowance for the exhaustion, wear and tear of property used in the...including a reasonable allowance for obsolescence; 70. (9) In the case of buildings, machinery, equipment, or other facilities, constructed, erected,... | |
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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. 
