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 37
... depreciation on an estimated life of 25 years and the petitioner maintains that an allowance based on a 10 - year life is proper , the building having been continu- ously in use by the petitioner for a period of 12 years , the valuation ...
... depreciation on an estimated life of 25 years and the petitioner maintains that an allowance based on a 10 - year life is proper , the building having been continu- ously in use by the petitioner for a period of 12 years , the valuation ...
Page 38
... 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 same name as the petitioner . The petitioner was organized in ...
... 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 same name as the petitioner . The petitioner was organized in ...
Page 39
... depreciation . We are therefore forced to the conclusion that the petitioner had incorrectly estimated its life . While it might have been possible to show that although the petitioner's allowance for depreciation in the taxable year ...
... depreciation . We are therefore forced to the conclusion that the petitioner had incorrectly estimated its life . While it might have been possible to show that although the petitioner's allowance for depreciation in the taxable year ...
Page 44
... Depreciated Appraised Value July 1 , 1917 , plus Additions at Cost to Sept. 29 , 1923 .. Less : Reserve for Depreciation ..... Contracts and Goodwill .... Total Assets .. LIABILITIES CURRENT LIABILITIES ------- $ 2,000.00 335.01 73 ...
... Depreciated Appraised Value July 1 , 1917 , plus Additions at Cost to Sept. 29 , 1923 .. Less : Reserve for Depreciation ..... Contracts and Goodwill .... Total Assets .. LIABILITIES CURRENT LIABILITIES ------- $ 2,000.00 335.01 73 ...
Page 59
... depreciated to 1920 , and he claimed therefore a loss of $ 15,000 on the sale . The respond- ent considered the $ 50,000 as the value of the property on September 30 , 1913 , and reduced this amount by depreciation to the date of sale ...
... depreciated to 1920 , and he claimed therefore a loss of $ 15,000 on the sale . The respond- ent considered the $ 50,000 as the value of the property on September 30 , 1913 , and reduced this amount by depreciation to the date of sale ...
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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...