 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1955 - 1002 pages
...provides: [In computing net income there shall be allowed as deductions:] "Depreciation. — A reasonable allowance for the exhaustion, wear and tear (Including...business, or (2) of property held for the production of Income." •Section 23 (f) provides: [In computing net Income there shall be allowed as deductions:]... | |
 | United States - Law - 1965 - 1110 pages
...deductible, see section 271 of this title. Time for taking deduction, see section 461 of this title. § 167. Depreciation. (a) General rule. There shall be...business, or <2) of property held for the production of income. (b) Use of certain methods and rates. For taxable years ending after December 31, 1953, the... | |
 | United States - Law - 1953 - 1744 pages
...for such terms in section 591 of Title 18 of the United States Code. (0 Depreciation. A reasonable 1+ e u Y v } " h2 h V ֬ i m ~Z aT"2... gq F : / w 6 x ? ꏽ ޝŻ ~ {Ԧ }ͷ& income. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States, Walter Elbert Barton - Gifts - 1944 - 1286 pages
...applicable to taxable years beginning after Dec. 31, 1941. Sec. 23. (1) Depreciation. — A reasonable allowance for the exhaustion, wear and tear (including...the trade or business, or (2) of property held for production of income. In the case of property held by one person for life with remainder to another... | |
 | United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 350 pages
...§ 123 (a) (2)) inserts "paragraph (2). of" before "subsection". (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear (including...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - Income tax - 1946 - 428 pages
...worthlessness of which is incurred in the taxpayer's trade or business. (1) DEPRECIATION. — A reasonable allowance for the exhaustion, wear and tear (including...business, or (2) of property held for the production of income. In the case of property held by one person for life with remainder to another person, the deduction... | |
 | Administrative law - 1977 - 1078 pages
...deduct a capital loss in accordance with the provisions of section 166(d) and paragraph (a)(2) of J 1.166-5. He may not apply the benefit of section 166(f...business, or (2) Of property held for the production of income. § 1.167(a)-l Depreciation in general. (a) Reasonable allowance. Section 167(a) provides that... | |
 | Administrative law - 1968 - 1618 pages
...section 166 (d) and paragraph (a) (2) of § 1.166-5. He may not apply the benefit of section 186(f) to his loss, since his payment Is In discharge of...business, or (2) Of property held for the production of Income. § 1.167 (a)— 1 Depreciation in general. (a) Reasonable allowance. Section 167 (a) provides... | |
 | Administrative law - 1966 - 1826 pages
...to his loss, since his payment is In discharge of an obligation Issued by a corporation. § 1.167(n) Statutory provisions; depreciation ; general rule....business, or (2) Of property held for the production of income. § 1.167 (a)— 1 Depreciation in general. (a) Reasonable allowance. Section 167 (a) provides... | |
| |
There shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (Including a reasonable allowance for obsolescence) — (1) Of property used In the trade or business, or (2) Of property held for the production... 
