Reports of the U.S. Board of Tax Appeals, Volume 12U.S. Government Printing Office, 1929 - Taxation |
From inside the book
Results 1-5 of 100
Page 21
... notes were secured by a second mortgage on the farm , taken back by the seller . At the date of the sale the notes secured by the second mortgage had a fair market value of $ 6,000 . The petitioner , Bjornstad , sold a one - half ...
... notes were secured by a second mortgage on the farm , taken back by the seller . At the date of the sale the notes secured by the second mortgage had a fair market value of $ 6,000 . The petitioner , Bjornstad , sold a one - half ...
Page 23
... notes signed by Thomas Hurley , given in exchange for a loan in the amount of $ 30,800 . The notes were secured by a chattel mortgage upon cattle owned by Hurley . Because of the death of many of the cattle during the winter and the ...
... notes signed by Thomas Hurley , given in exchange for a loan in the amount of $ 30,800 . The notes were secured by a chattel mortgage upon cattle owned by Hurley . Because of the death of many of the cattle during the winter and the ...
Page 25
... notes and that it has sustained a loss in the amount of the difference between the value of the land and the face of the notes . Such contention is purely fiction . There has in fact been no exchange of property on which a loss could be ...
... notes and that it has sustained a loss in the amount of the difference between the value of the land and the face of the notes . Such contention is purely fiction . There has in fact been no exchange of property on which a loss could be ...
Page 106
... notes from the Lassen Logging Co. in the aggregate amount of $ 95,000 , and immediately assigned such notes to the corporation to be credited to their account . Subsequently such notes were paid in full . At January 31 , 1922 , this ...
... notes from the Lassen Logging Co. in the aggregate amount of $ 95,000 , and immediately assigned such notes to the corporation to be credited to their account . Subsequently such notes were paid in full . At January 31 , 1922 , this ...
Page 150
... notes payable one each month . Held , that only so much of the discount as was earned within the year 1920 is income to the petitioner for that year . E. B. Wilkinson , Esq . , and M. F. Gallagher , Esq . , for the petitioner . Brice ...
... notes payable one each month . Held , that only so much of the discount as was earned within the year 1920 is income to the petitioner for that year . E. B. Wilkinson , Esq . , and M. F. Gallagher , Esq . , for the petitioner . Brice ...
Other editions - View all
Common terms and phrases
acquired agreement alleged amount assessment assets Bank basis Board bonds Boston Elevated Railway calendar capital stock cash cent claim COMMISSIONER OF INTERNAL Company computing consolidated contract corporation cost court December 31 deduction deficiency in income depletion depreciation determined dividends Docket Donaldson Co earnings entered under Rule evidence fair market value February filed FINDINGS OF FACT follows gross income included income and profits income tax interest INTERNAL REVENUE inventory invested capital issued James Couzens January January 31 Julius Rosenwald June 15 lease loans loss March March 11 mortgage net income operation opinion paid par value parties partnership payable payment peti petitioner petitioner's preferred stock prior proceeding profits taxes Promulgated June purchase Realty received redetermination respect Revenue Act Robert Whittaker Rosenwald Fund Rule 50 sold statute stockholders taxable taxpayer thereof tion tioner transferred Trust Western Maryland Railway
Popular passages
Page 563 - A conveyance by a partner of his interest in the partnership does not of itself dissolve the partnership, nor, as against the other partners in the absence of agreement, entitle the assignee, during the continuance of the partnership, to interfere in the management or administration of the partnership business or affairs...
Page 571 - The value of the gross estate of the decedent shall be determined by including the value at the time of his death...
Page 131 - ... shall be a lien in favor of the United States upon all property and rights to property, whether real or personal, belonging to such person.
Page 668 - In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors...
Page 977 - The amount of all such items shall be included in the gross income for the taxable year in which received by the taxpayer, unless under methods of accounting permitted under subdivision (b) of Section 11, any such amounts are to be properly accounted for as of a different period.
Page 128 - ... (a) Method of collection. The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, collected, and paid in the same manner and subject to the same provisions and limitations as in the case of a deficiency in a tax imposed by this...
Page 532 - The amount of all items of gross income shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under methods of accounting permitted under section 41, any such amounts are to be properly accounted for as of a different period.
Page 783 - Where before the expiration of the time prescribed in section 275 for the assessment of the tax, both the Commissioner and the taxpayer have consented in writing to its assessment after such time, the tax may be assessed at any time prior to the expiration of the period agreed upon.
Page 391 - Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction.
Page 727 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) 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...