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
... fact the market value of such mer- chandise was only $ 3,769.02 . Held , that the closing inventory for 1920 of $ 135,712.95 as determined by the respondent should be reduced by $ 19,005.20 and the deficiencies for 1920 and 1921 be ...
... fact the market value of such mer- chandise was only $ 3,769.02 . Held , that the closing inventory for 1920 of $ 135,712.95 as determined by the respondent should be reduced by $ 19,005.20 and the deficiencies for 1920 and 1921 be ...
Page 39
... facts . At the time of the trial of the case the building in question was still in use . The estimated life had in fact been exceeded at the date of the trial . Nor does the record show facts occurring between the acquisition of the ...
... facts . At the time of the trial of the case the building in question was still in use . The estimated life had in fact been exceeded at the date of the trial . Nor does the record show facts occurring between the acquisition of the ...
Page 57
... fact that a loss was sustained in 1920 or the basis upon which a loss may be measured , the respondent is sustained . As to the loss claimed in respect of stock loaned to Zigler , the respondent allowed a deduction upon the basis of an ...
... fact that a loss was sustained in 1920 or the basis upon which a loss may be measured , the respondent is sustained . As to the loss claimed in respect of stock loaned to Zigler , the respondent allowed a deduction upon the basis of an ...
Page 67
... fact and must be determined on the evidence in the record . " An examination of the facts herein indicates to our mind that petitioner has confused good will value with leasehold values . The testimony of Ross , one of the original ...
... fact and must be determined on the evidence in the record . " An examination of the facts herein indicates to our mind that petitioner has confused good will value with leasehold values . The testimony of Ross , one of the original ...
Page 124
... fact was known in 1902 , and that the estimated minimum tonnage of recoverable coal was 31,090,000 tons . The respondent's witness was unable to refute this testimony , and these facts , when considered with the fact that pe- titioner ...
... fact was known in 1902 , and that the estimated minimum tonnage of recoverable coal was 31,090,000 tons . The respondent's witness was unable to refute this testimony , and these facts , when considered with the fact that pe- titioner ...
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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...