Reports of the Tax Court of the United States, Volume 21U.S. Government Printing Office, 1954 - Taxation |
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Page 8
... expenses more or less paralleled each other from month to month , the case would be somewhat like one or more of those cited by the petitioner and some carry - back of an unused excess profits credit from 1945 might be in order , but ...
... expenses more or less paralleled each other from month to month , the case would be somewhat like one or more of those cited by the petitioner and some carry - back of an unused excess profits credit from 1945 might be in order , but ...
Page 17
... expenses , and losses from these ranch operations during this period constituted com- munity income , expenses , and losses of the spouses . The ranch opera- tions constituted a business , which was carried on by Fred MacMurray , with ...
... expenses , and losses from these ranch operations during this period constituted com- munity income , expenses , and losses of the spouses . The ranch opera- tions constituted a business , which was carried on by Fred MacMurray , with ...
Page 23
... expenses , with $ 25,000 to be personally guaranteed by MacMurray and Fenton ; and , in the same agreement , Mutual requested an advance of $ 10,000 on account of preproduction expenses . Using part of the funds borrowed from Tower ...
... expenses , with $ 25,000 to be personally guaranteed by MacMurray and Fenton ; and , in the same agreement , Mutual requested an advance of $ 10,000 on account of preproduction expenses . Using part of the funds borrowed from Tower ...
Page 81
... expenses in connection with the aforesaid payments received by him in that year , a total of $ 424.54 . During the calendar year 1946 , the petitioner commenced and engaged in mining exploration and development work with respect to ...
... expenses in connection with the aforesaid payments received by him in that year , a total of $ 424.54 . During the calendar year 1946 , the petitioner commenced and engaged in mining exploration and development work with respect to ...
Page 82
... expenses , such expenses being segregated or allocated for each prop- erty explored . Kral also made examinations and samplings of some of the properties . At times when needed , less experienced engineers were also employed by ...
... expenses , such expenses being segregated or allocated for each prop- erty explored . Kral also made examinations and samplings of some of the properties . At times when needed , less experienced engineers were also employed by ...
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Common terms and phrases
acquired adjustments agreement allowed amount April assets average base period Bank basis bonds capital gain cash cent claimed coal COMMISSIONER OF INTERNAL Company computing contract corporation cost Court cream cheese debentures decedent December 31 decree deduction deficiency determined disallowed distribution dividend divorce Docket earnings excess profits credit excess profits tax expenses February 28 filed FINDINGS OF FACT follows gross income held included income tax income tax return interest Internal Revenue Code invested issue Jack Chesbro January June 30 Kraft Ill Lake Wales lease liability loss ment National Dairy net income operating ordinary income paid Pardon My Past parties partnership patents payable payments period net income peti petitioner petitioner's prior production purchase purpose received rental respondent respondent's salary section 722 shares sold stipulated stockholders supra taxpayer thereof tion tioner trade or business transferred trust United wife yeast
Popular passages
Page 83 - Deductions otherwise allowed by law not attributable to the operation of a trade or business regularly carried on by the taxpayer...
Page 301 - 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 828 - In the case of an Individual, losses sustained during the taxable year and not compensated for by insurance or otherwise — (1) U Incurred In trade or business; or (2) If Incurred in any transaction entered into for profit, though not connected with the trade or business...
Page 814 - This is not the substitution of the will of the judge for that of the legislator, for frequently words of general meaning are used in a statute, words broad enough to include an act in question, and yet a consideration of the whole legislation, or of the circumstances surrounding its enactment, or of the absurd results which follow from giving such broad meaning to the words, makes it unreasonable to believe that the legislator intended to include the particular act.
Page 8 - When aid to construction of the meaning of words, as used in the statute, is available, there certainly can be no "rule of law" which forbids its use, however clear the words may appear on "superficial examination.
Page 468 - ... as are allowed by the laws of the jurisdiction, whether within or without the United States, under which the estate is being administered...
Page 953 - ... organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, Including the encouragement of art and the prevention of cruelty to children or animals...
Page 278 - ... in discharge of, a legal obligation which, because of the marital or family relationship, is imposed upon or incurred by such husband under such decree or under a written instrument incident to such divorce...
Page 8 - Frequently, however, even when the plain meaning did not produce absurd results but merely an unreasonable one 'plainly at variance with the policy of the legislation as a whole' this Court has followed that purpose, rather than the literal words.
Page 47 - February 28, 1913, the basis for depletion shall be the fair market value of the property at the date of discovery or within thirty days thereafter, If such mines were not acquired as the result of purchase of a proven tract or lease, and If the fair market value of the property Is materially disproportionate to the cost.