 ... shall be construed according to the method of accounting upon the basis of which the net income is computed under section 212 or 232. The deductions and credits provided for in this title shall be taken for the taxable year in which "paid or accrued  State Taxation of Personal Incomes - Page 219by Alzada Comstock - 1921 - 247 pagesFull view - About this book
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1955 - 908 pages
...period." Section 48 provides, "When used in this chapter . . . (c) The terms . . . 'Paid or Accrued' shall be construed according to the method of accounting...basis of which the net income is computed under this Part." This provision of § 48 would itself seem to be conclusive of the question since § 122 is "in... | |
 | United States. Court of Claims - Law reports, digests, etc - 1934 - 914 pages
...books of such taxpayer ; * * *." " SEC. 200. (d) The terms ' paid or incurred ' and ' paid or accrued ' shall be construed according to the method of accounting...the basis of which the net income is computed under section 212 or 232. The deductions and credits provided for in this title shall be taken for the taxable... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1953 - 968 pages
...shall be taken for the taxable year in which "paid or accrued" or "paid or incurred," dependent upon the method of accounting upon the basis of which the net income is computed * * *. Then it points to Section 23 which says : Deductions from Gross Income In computing net income... | |
 | United States. Court of Claims - Law reports, digests, etc - 1928 - 760 pages
...12, it is declared that " paid " means " paid or accrued " and that the phrase " paid or accrued " shall be construed, according to the method of accounting, upon the basis on which the net income is computed. The return in that case showed that the computations was made... | |
 | Robert Hiester Montgomery - Excess profits tax - 1920 - 1304 pages
...paid within the taxable year on policy and annuity contracts. "Paid" includes "accrued'' or "incurred" (construed according to the method of accounting upon the basis of which the net income is computed) during the taxable year, but does not include any estimate for losses incurred but not reported during... | |
 | Henry Montefiore Powell - Corporations - 1919 - 708 pages
...means "paid or accrued" or "paid or incurred," and the terms "paid or incurred" and "paid or accrued" shall be construed according to the method of accounting...basis of which the net income is computed, under this article. The term "received" for the purpose of the computation of net income under this article, means... | |
 | New York (N.Y.). Tax Commission - Taxation - 1919 - 106 pages
...computation of net income under this article, means "received or accrued" and the term "received or accrued" shall be construed according to the method of accounting...basis of which the net income is computed under this article. 7. The word "resident" applies only to natural persons and includes for the purpose of determining... | |
 | National City Company, United States - Internal revenue law - 1919 - 104 pages
...means "paid or accrued" or "paid or incurred," and the terms "paid or incurred" and "paid or accrued" shall be construed according to the method of accounting...the basis of which the net income is computed under Section 212 (par. 45-47). DIVIDENDS. 21. SEC. 201. (a) That the term "dividend" when used in this title... | |
 | United States - 1919 - 460 pages
..." paid or accrued " or " paid or incurred." and the terms "paid or incmi'ca" and "paid or accrued" shall be construed according to the method of accounting...basis of which the, net in-come is computed under section two hundred and twelve. And the Senate agree' to the same. Amendment numbered 14 : That the... | |
 | Prentice-Hall Inc, Prentice-Hall, inc - Reference - 1919 - 640 pages
...paid within the taxable year on policy and annuity contracts. "Paid" includes "accrued" or "incurred" (construed according to the method of accounting upon the basis of which the net income is computed) during the taxable year, but does not include any estimate for losses incurred but not reported during... | |
| |
