Reports of the U.S. Board of Tax Appeals, Volume 13U.S. Government Printing Office, 1929 - Taxation |
From inside the book
Results 1-5 of 100
Page 35
... cost or market whichever was lower . Certain items of merchandise were in- cluded in petitioner's inventory on December 31 , 1920 , at a cost of $ 22,774.22 when as a matter of fact the market value of such mer- chandise was only ...
... cost or market whichever was lower . Certain items of merchandise were in- cluded in petitioner's inventory on December 31 , 1920 , at a cost of $ 22,774.22 when as a matter of fact the market value of such mer- chandise was only ...
Page 36
... cost or market whichever was lower . Early in 1920 the petitioner's president , Max Woldenberg , went to Berlin , Germany , for the purpose of purchasing chemicals , but due to the scarcity of these commodities in the market he was not ...
... cost or market whichever was lower . Early in 1920 the petitioner's president , Max Woldenberg , went to Berlin , Germany , for the purpose of purchasing chemicals , but due to the scarcity of these commodities in the market he was not ...
Page 38
... cost of the building at com- mencement of the term over which depreciation is claimed was the basis of arriving at the amount of depreciation to be taken each year . When the building was erected it was erected by a partnership of the ...
... cost of the building at com- mencement of the term over which depreciation is claimed was the basis of arriving at the amount of depreciation to be taken each year . When the building was erected it was erected by a partnership of the ...
Page 40
... cost , or $ 103,507.35 and by increasing the inventory of coal to cost , or $ 3,288.25 . OPINION . MURDOCK : The authority for the use of inventories is contained in section 203 of the Revenue Act of 1918 , as follows : That whenever in ...
... cost , or $ 103,507.35 and by increasing the inventory of coal to cost , or $ 3,288.25 . OPINION . MURDOCK : The authority for the use of inventories is contained in section 203 of the Revenue Act of 1918 , as follows : That whenever in ...
Page 44
... Cost .. $ 874 , 646. 43 Less : Payments received ...... 6. Bethlehem Ship Corporation - Turbines 94 and 95 .. Less : Payments Received ...-- . Hugh J. Chisholm - Yacht No. 96 ..... 7. Miscellaneous Contracts under Construction .. Less ...
... Cost .. $ 874 , 646. 43 Less : Payments received ...... 6. Bethlehem Ship Corporation - Turbines 94 and 95 .. Less : Payments Received ...-- . Hugh J. Chisholm - Yacht No. 96 ..... 7. Miscellaneous Contracts under Construction .. Less ...
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Common terms and phrases
additional agreement alleged allowed amount Arthur Letts assessment assets bank basis Board capital stock cash cent charged claimed coal COMMISSIONER OF INTERNAL computing contract corporation cost court decedent December 31 deduction from gross deficiency in income depreciation determined disallowed dividends Docket Dodge earnings entered under Rule Esperson evidence executors expenses fair market value filed FINDINGS OF FACT fiscal year ended follows funds gross income held Horace E included income and profits income tax income-tax return interest INTERNAL REVENUE inventory invested capital issue January January 31 July Klaw & Erlanger land lease loss Lumber March net income opinion paid par value parties partnership payment peti petitioner petitioner's Phelps Dodge Corporation prior proceeding profits taxes purchase question real estate received redetermination reserve respondent Revenue Act Rule 50 sold statute statute of limitations stockholders taxable taxpayer thereof tion tioner trust
Popular passages
Page 444 - KNOW ALL MEN BY THESE PRESENTS: That of , , as principal, and of , as surety — , are held and firmly bound unto the United States of America in the sum of Dollars, lawful money of the United States, for the payment of which, well and truly to be made, we bind ourselves, and each of us, our heirs, successors, executors, administrators or assigns, jointly and severally, firmly by these presents.
Page 796 - The amount of income taxes imposed by this title shall be assessed within two years after the return was filed, and no proceeding in court without assessment for the collection of such taxes shall be begun after the expiration of such period.
Page 26 - ... taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 473 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for...
Page 580 - 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 144 - ... gains, profits, and income derived from salaries, wages, or compensation for personal service of whatever kind and in whatever form paid, or from professions, vocations.
Page 268 - Any transfer of a material part of his property in the nature of a final disposition or distribution thereof, made by the decedent within two years prior to his death without such consideration, shall, unless shown to the contrary, be deemed to have been made in contemplation of death within the meaning of this title.
Page 641 - Sec. 234. (a) That in computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business...
Page 28 - ... payments, required to be made as a condition to the continued use or possession of property; (second) all losses actually sustained within the year and not compensated by insurance or otherwise...
Page 350 - 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...