Whenever In the opinion of the Commissioner the use of Inventories is necessary in order clearly to determine the Income of any taxpayer, Inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary,... Taxation of Corporations and Personal Income in New York - Էջ 252Henry Montefiore Powell - 1919 - 400 էջԱմբողջությամբ դիտվող - Այս գրքի մասին
| United States - 1928 - 268 էջ
...taxpayer upon such basis as the Commissioner, with the approval of the Secreta.ry, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. DEDUCTIONS ALLOWED INDIVIDUALS. SEC. 214. (a) In computing net... | |
| United States - 1928 - 1164 էջ
...the Secretary, may prescribe as conforming as nearly as §935 Note l TITLE 26.— INTERNAL REVENUE may be to the best accounting practice in the trade or business and as most clearly reflecting the income. (June 2, 1924, 4.01 p. т., с. 234, §205, 43 Stat. 260; Feb.... | |
| Robert Hiester Montgomery - 1923 - 1760 էջ
...taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income. The 1918 law for.the first time gave the Commissioner specific... | |
| Robert Hiester Montgomery - 1927 - 1510 էջ
...REGULATION. Section 205 provides two tests to which each inventory must conform: First. It must conform as nearly as may be to the best accounting practice in the trade or business, and Second. It must clearly reflect the income. It follows, therefore, that inventory rules can not be... | |
| Robert Hiester Montgomery - 1919 - 1016 էջ
...necessary clearly to determine the income of any taxpayer" and specifies that the basis shall "conform as nearly as may be to the best accounting practice in the trade or business." Fortunately, the determination of "best accounting practice" is not difficult. Briefly defined, the... | |
| Robert Hiester Montgomery - 1927 - 1510 էջ
...205 dealing . with inventories, the Commissioner is empowered to prescribe practices which conform "as nearly as may be to the best accounting practice in the trade." And in section 212 (b) the Commissioner in order to "clearly reflect the income" of taxpayers is empowered... | |
| United States. Board of Tax Appeals - 1929 - 1592 էջ
...the Commissioner, with the approval of the Secretary, may prescribe ns conforming as nearly as mny be to the best accounting practice in the trade or business and as most clearly reflecting the income. which exceeded 5,554 tons was priced by petitioner at cost or... | |
| United States. Congress. Senate. Committee on Appropriations - 1930 - 120 էջ
...taxpayer upon such basis as the commissioner, with the approval •of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income." In article 1581, regulations 45, issued under the revenue act... | |
| United States. Congress. Senate. Appropriations Committee - 1930 - 122 էջ
...'taxpayer upon such basis as the commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income." In article 1581, regulations 45, issued under the revenue act... | |
| |