Reports of the Tax Court of the United States, Volume 14U.S. Government Printing Office, 1950 - Law reports, digests, etc Final issue of each volume includes table of cases reported in the volume. |
From inside the book
Results 1-5 of 100
Page 48
... base period fiscal years 1937-1940 was $ 8,823.23 , of which 125 per cent is $ 11,029.03 . Sub- tracting this figure from the " Wheeler Contract " income of $ 22,050.90 , petitioner arrived at the $ 11,021.87 claimed as representing ...
... base period fiscal years 1937-1940 was $ 8,823.23 , of which 125 per cent is $ 11,029.03 . Sub- tracting this figure from the " Wheeler Contract " income of $ 22,050.90 , petitioner arrived at the $ 11,021.87 claimed as representing ...
Page 50
... base period to which it was attrib- utable . Otherwise , section 721 affords no relief . Sec . 35.721-3 , Reg- ulations 112 ; Steel or Bronze Piston Ring Corporation , 13 T. C. 636 ; Harris Hardwood Co. , 8 T. C. 874 ; Geyer , Cornell ...
... base period to which it was attrib- utable . Otherwise , section 721 affords no relief . Sec . 35.721-3 , Reg- ulations 112 ; Steel or Bronze Piston Ring Corporation , 13 T. C. 636 ; Harris Hardwood Co. , 8 T. C. 874 ; Geyer , Cornell ...
Page 100
... base period either because of temporary economic circumstances unusual in the case of the petitioner or because of temporary economic events unusual in the case of the industry of which the taxpayer was a member , nor does its average base ...
... base period either because of temporary economic circumstances unusual in the case of the petitioner or because of temporary economic events unusual in the case of the industry of which the taxpayer was a member , nor does its average base ...
Page 101
... base period net income originally returned for the base period years is an inadequate standard of normal earn- ings because the business of petitioner was depressed in the base period on account of a depression in the industry of which ...
... base period net income originally returned for the base period years is an inadequate standard of normal earn- ings because the business of petitioner was depressed in the base period on account of a depression in the industry of which ...
Page 102
... period was $ 9,106.26 . The average etermined by the respondent with adjust- one with respect to 1939 , the only base erase period net income as so de- ming the excess profits credit for vas 89.56 and for 1943 was $ 11,809.89 . ons is ...
... period was $ 9,106.26 . The average etermined by the respondent with adjust- one with respect to 1939 , the only base erase period net income as so de- ming the excess profits credit for vas 89.56 and for 1943 was $ 11,809.89 . ons is ...
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Common terms and phrases
acquired adjusted agreement amount Archbold-Hagner assets average base period basis beneficiaries bonds cash cent certificates claimed COMMISSIONER OF INTERNAL common stock compensation computed contract corporation Court death decedent decedent's December 28 December 31 deductions deficiency determined distribution dividend Docket earnings employees entitled estate tax excess profits tax expenses Fageol Feldman filed FINDINGS OF FACT fiscal follows Funk gift tax gross estate gross income Hall-Scott held Helen Saunders Helvering included income tax interest Internal Revenue Code issued January liability mortgage Northern Trust Co operation paid partners partnership patents payable payment pension period net income peti petitioner petitioner's prior proration purchase purpose receipt received renegotiation respect respondent salary Seagram section 107 section 722 shares Spar stipulated stockholders supra taxable taxpayer thereof tion tioner transfer trust trust instrument United wife York
Popular passages
Page 370 - 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 derived...
Page 203 - If an exchange would be within the provisions of subsection (b), (1), (2), (3), or (5) of this section if it were not for the fact that the property received in exchange consists not only of property permitted by such paragraph to be received without the recognition of gain, but also of other property or money...
Page 203 - No gain or loss shall be recognized If property is transferred to a corporation by one or more persons solely In exchange for stock or securities in such corporation, and Immediately after the exchange such person or persons are in control of the corporation...
Page 332 - person" shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. (2) Partnership and partner. The term "partnership...
Page 663 - ... for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death (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 296 - The basis upon which exhaustion, wear and tear, and obsolescence are to be allowed in respect of any property shall be the adjusted basis provided in section 113 (b) for the purpose of determining the gain upon the sale or other disposition of such property.
Page 179 - Upon the sale or exchange of property the entire amount of the gain or loss, determined under section 111, shall be recognized, except as hereinafter provided in this section.
Page 144 - Intervals, then, to the extent that It Is paid or credited or to be distributed out of Income from property, it shall be...
Page 673 - ... shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.