Reports of the Tax Court of the United States, Volume 4U.S. Government Printing Office, 1945 - Law reports, digests, etc |
From inside the book
Results 1-5 of 100
Page 11
... included in the income of the respective petitioners the amount by which all the distributions received by petitioners exceeded their adjusted bases for the stock . The grounds for his action were that the distributions , having been ...
... included in the income of the respective petitioners the amount by which all the distributions received by petitioners exceeded their adjusted bases for the stock . The grounds for his action were that the distributions , having been ...
Page 34
... included in decedent's income by virtue of the provisions of section 134. It further justifiably recognizes " that Section 134 of the Revenue Act of 1943 is retroactively effective for years prior to 1943 only if certain requirements of ...
... included in decedent's income by virtue of the provisions of section 134. It further justifiably recognizes " that Section 134 of the Revenue Act of 1943 is retroactively effective for years prior to 1943 only if certain requirements of ...
Page 53
... included in his gross income in the year earned by the business , its books being kept on an accrual basis , or in the year when they were paid , the taxpayer being on the cash basis . We recognized that two separate systems of ...
... included in his gross income in the year earned by the business , its books being kept on an accrual basis , or in the year when they were paid , the taxpayer being on the cash basis . We recognized that two separate systems of ...
Page 87
... included in the amounts allowed by the Commissioner as deductions . The regulations provide that , where all losses and expenses have been allowed as deductions , it is not permissible to allow a further deduction of premium deposits ...
... included in the amounts allowed by the Commissioner as deductions . The regulations provide that , where all losses and expenses have been allowed as deductions , it is not permissible to allow a further deduction of premium deposits ...
Page 88
... included amounts paid for their tuition , clothes , medical care , and travels . During 1940 the net income of petitioner's husband was $ 137,339.25 . Petitioner's husband included in his income on his return the income of each trust ...
... included amounts paid for their tuition , clothes , medical care , and travels . During 1940 the net income of petitioner's husband was $ 137,339.25 . Petitioner's husband included in his income on his return the income of each trust ...
Other editions - View all
Common terms and phrases
accrued agreement Albert Fleming amended amount annuity applied assets Bank basis beneficiary cash claim COMMISSIONER OF INTERNAL common stock computing contract corporation corpus coupons Court death decedent decedent's December 31 decision deduction deficiency determined distribution dividends Docket earnings entitled estate tax excess profits tax executors expenses fair market value filed FINDINGS OF FACT follows funds gain Galbreath gift tax grantor gross estate gross income held Helvering hereinafter Hofford included income tax income tax return interest Internal Revenue Code investment issue January Lafayette College lease liability loss mortgage net income paid payable payment percent personal holding company peti petitioner petitioner's policies preferred stock principal prior purchase purpose question received refund respect respondent Revenue Act securities shares statute stipulated stockholders supra syndicate taxable taxpayer thereof tion tioner transfer trust estate trust instrument unjust enrichment wife
Popular passages
Page 247 - Gross Income" includes 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, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property ; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income...
Page 309 - ... traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business; and rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity...
Page 792 - ... (1) the possession or enjoyment of, or the right to the income from, the property, or (2) the right, either alone or in conjunction with any person, to designate the persons who shall possess or enjoy the property or the income therefrom; except in case of a bona fide sale for an adequate and full consideration in money or money's worth.
Page 807 - If a corporation cancels or redeems its stock (whether or not such stock was issued as a stock dividend) at such time and in such manner as to make the distribution and cancellation or redemption in whole or in part essentially equivalent to the distribution of a taxable dividend...
Page 792 - 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 a consideration, shall, unless shown to the contrary, be deemed to have been made in contemplation of death within the meaning of this title...
Page 544 - The respective interests of the husband and wife in community property during continuance of the marriage relation are present, existing and equal interests under the management and control of the husband as is provided in sections 172 and 172a of the Civil Code. This section shall be construed as defining the respective interests and rights of husband and wife in community property.
Page 430 - If a taxpayer receives earnings under a claim of right and without restriction as to its disposition, he has received income which he is required to return, even though it may still be claimed that he is not entitled to retain the money, and even though he may still be adjudged liable to restore its equivalent.
Page 219 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include — "(A) stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 44 - The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, collected, and paid in the same manner and subject to the same provisions and limitations...
Page 178 - In the interpretation of statutes levying taxes, it is the established rule not to extend their provisions by implication beyond the clear import of the language used, or to enlarge their operations so as to embrace matters not specifically pointed out. In case of doubt, they are construed most strongly against the government, and in favor of the citizen.