 | United States. Tax Court - 1959 - 1372 էջ
...taxpayer. • • • Section 446 (a) of the Internal Kevenue Code of 1954 provides that "[tjaxable income shall be computed under the method of accounting...regularly computes his income in keeping his books." Section 446 (c) listed as a permissible method "the cash receipts and disbursements method." Section... | |
 | United States. Congress. House. Committee on Ways and Means - 1959 - 1378 էջ
...protection from the courts, not from the Congress. When you look at the tax statute right now, it says that income shall be computed under the method of accounting...regularly computes his income in keeping his books. When it comes to deductions, it says deductions shall be allowed in the proper taxable year under the... | |
 | 1961 - 566 էջ
...rule for methods of accounting. SEC. 446. General rule for methods of accounting — (a) General rule. Taxable income shall be computed under the method...taxpayer regularly computes his income in keeping hla books. (b) Exceptions. If no method of accounting has been regularly used by the taxpayer, or if... | |
 | United States. Tax Court - 1962 - 1262 էջ
...In this part If. In the opinion of the Commissioner, Income Is clearly reflected by the use of -u'-h method. Further, the Commissioner may authorize a...Commissioner In the case of changes In accounting method. cited by petitioner as being a change in the regulations under the Internal Revenue Code of 1954 from... | |
 | United States. Tax Court - 1965 - 888 էջ
...opinion of the Commissioner, income <« clearly reflected by the use of such method. See section 446(a) and paragraph (a) of this section, which require that...regularly computes his Income In keeping his books • • *. [Emphasis supplied.] for the years in which they were received was erroneous. He has made... | |
 | United States. Tax Court - 1966 - 958 էջ
...theory is that the 1 SEC. 440. GENERAL RULE FOR METHODS OF ACCOUNTING. (a) GENERAL RULE.—Taxable Income shall be computed under the method of accounting...regularly computes his Income In keeping his books. $300,000 must be included in petitioner's income for the fiscal year ending May 31, 1961, in order... | |
 | United States. Internal Revenue Service - 1972 - 624 էջ
...already been sold to the ultimate consumer. Section 446 (a) of the Internal Revenue Code of 1954 provides Section 1451-1 (a) of the Income Tax Regulations provides that under an accrual method of accounting,... | |
 | United States. Internal Revenue Service - 1974
...delivery to him at a specified future time. Section 446 of the Internal Revenue Code of 1954 provides that taxable income shall be computed under the method...regularly computes his income in keeping his books. If no method of accounting has been regularly used by the taxpayer, or if the method used does not... | |
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If no method of accounting has been regularly used by the taxpayer, or if the method used does not clearly reflect income, the computation of taxable income shall be made under such method as, in the opinion of the Secretary or his delegate, does clearly... 
