...generally. • • • Taxes paid or accrued within the taxable year * * *. Sec. 41. Oeneral rale. The net income shall be computed upon the basis of...regularly employed In keeping the books of such taxpayer • • •. Sec. 43. Period for which deductions and credits taken. The deductions ud credits •...

...followed by him." * * * Section 212, above quoted, provides that " the net income of a taxpayer shall be computed upon the basis of the taxpayer's annual...regularly employed in keeping the books of such taxpayer." The plaintiff, as has been stated, used the accrual basis of accounting for the year 1919, as it had...

...thereof except as otherwise provided by the law of the jurisdiction imposing such taxes ; * * *. " SEC. 212. (b) 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...

...1926. The revenue acts in force during the taxable years, and prior thereto, provided that net income be computed upon the basis of the taxpayer's annual...accounting period in accordance with the method of Opinion of the Court accounting regularly employed by it in keeping its books, but that if the method...

...1944, that the liability of the taxpayer to pay the amount was established. ' § 41. GESEHAL BULB. — 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...

...which it employs. Section 41 states the general rule that net income shall be computed "in accordance with the method of accounting regularly employed in keeping the books" of the taxpayer. Section 43 provides that deductions and credits may be taken "for the taxable year in...

...§ 6336%f) and section 212 of the Revenue Act of 1921 (Comp. St. § 6336ysf), providing as follows : "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...

...legislation with respect to bookkeeping, I want to read a section of the new revenue law defining net income: "The net income shall be computed upon the basis of...regularly employed in keeping the books of such taxpayer. Where no such method of accounting has been so employed, or if the method employed does not clearly...

...clearly reflect the income." LAW. Section 212. (b) The net income shall be computed .... in accordance with the method of accounting regularly employed in keeping the books of such taxpayer,17 but if no such method of accounting has been so employed, or if the method employed does...

...income" means the gross income as defined in section 213, less the deductions allowed by section 214. (b) The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the ease may be) in accordance with the method of accounting regularly...