Reports of the U.S. Board of Tax Appeals, Volume 27U.S. Government Printing Office, 1933 - Taxation |
From inside the book
Results 1-5 of 100
Page 25
... income and profits taxes for 1919 in the amount of $ 54,498.50 . The only issue pleaded by the petitioner is that at the date of the deficiency notice the statute of limitations had barred assessment and collection of the tax . FINDINGS ...
... income and profits taxes for 1919 in the amount of $ 54,498.50 . The only issue pleaded by the petitioner is that at the date of the deficiency notice the statute of limitations had barred assessment and collection of the tax . FINDINGS ...
Page 26
... income tax unit on April 28 , 1925. The first waiver was received by that section on April 17 , 1925 . A notice of deficiency from which this appeal was taken was mailed to the petitioner on September 26 , 1927. The deficiency notice ...
... income tax unit on April 28 , 1925. The first waiver was received by that section on April 17 , 1925 . A notice of deficiency from which this appeal was taken was mailed to the petitioner on September 26 , 1927. The deficiency notice ...
Page 30
... income as disclosed by the income tax return filed by the petitioner for the year 1926 is understated by the amount of $ 48,000 , cost of patterns , dies , jigs and fixtures charged to expense , but which represent capital expenditures ...
... income as disclosed by the income tax return filed by the petitioner for the year 1926 is understated by the amount of $ 48,000 , cost of patterns , dies , jigs and fixtures charged to expense , but which represent capital expenditures ...
Page 78
... income tax returns upon the basis of the calendar year . It never at any time prior to 1929 filed an income tax return for a period of less than a year , nor did it ever request or receive permission of the Commissioner of Internal Revenue ...
... income tax returns upon the basis of the calendar year . It never at any time prior to 1929 filed an income tax return for a period of less than a year , nor did it ever request or receive permission of the Commissioner of Internal Revenue ...
Page 84
United States. Board of Tax Appeals. being erroneous , was proper . He contends that , since the petitioners could have ascertained their income for the purpose of the return at the end of any monthly period , they properly reported their ...
United States. Board of Tax Appeals. being erroneous , was proper . He contends that , since the petitioners could have ascertained their income for the purpose of the return at the end of any monthly period , they properly reported their ...
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Common terms and phrases
acquired agreement allowed amount assessment assets Bamberger Bank basis Board bonds capital stock cash cent claimed COMMISSIONER OF INTERNAL common stock computing contract corporation cost court death decedent decedent's December 31 decision deduction deficiency depreciation determined Director distribution Docket Executors expenses February 28 filed FINDINGS OF FACT follows fund gain or loss gross income held included income tax income tax return interest INTERNAL REVENUE investment issue J. A. Folger January lease Lessee Lessor liability liquidation March net income opinion Orleans Terminal paid pany par value parties partnership payment period peti petitioner petitioner's Poncin preferred stock prior proceeding profits Promulgated purchase Railway Company real estate Realty received respect respondent respondent's Revenue Act securities sold Southern Railway Southern Railway Company statute stipulation stockholders supra taxable income taxpayer thereof tion tioner transaction transfer Tribune Company trust trust instrument United wife
Popular passages
Page 399 - reorganization' means (A) a merger or consolidation (including the acquisition by one- corporation of at least a majority of the voting stock and at least a majority of the total number of shares of all other classes of stock of another corporation, or substantially all the properties of another corporation...
Page 374 - President of , the corporation described in and which executed the foregoing instrument; that he knows the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the Board of Directors of said Corporation and that he signed his name thereto by like order.
Page 73 - 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 68 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include 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 819 - Future estates are either vested or contingent. They are vested, when there is a person in being, who would have an immediate right to the possession of the lands, upon the ceasing of the intermediate or precedent estate.
Page 17 - Farmers', fruit growers', or like associations organized and operated on a cooperative basis (a) for the purpose of marketing the products of members or other producers, and turning back to them the proceeds of sales, less the necessary marketing expenses...
Page 325 - That the value of the gross estate of the decedent shall be determined by including the value at the time of his death...
Page 230 - ... (b) Nonresident aliens. — All persons, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of the United States, having the control, receipt, custody, disposal, or payment...
Page 165 - As used In this section the term " amounts distributed In partial liquidation " means a distribution by a corporation in complete cancellation or redemption of a part of its stock, or one of a series of distributions in complete cancellation or redemption of all or a portion of its stock.
Page 473 - If an exchange is described in paragraph (1) but has the effect of the distribution of a dividend, then there shall be treated as a dividend to each distributee such an amount of the gain recognized under paragraph (1) as Is not In excess of his ratable share of the undistributed earnings and profits of the corporation accumulated after February 28, 1913. The remainder, if any, of the gain recognized under paragraph (1) shall be treated as gain from the exchange of property.