 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. Board of Tax Appeals - 1930 - 1554 էջ
...income either in accordance with the method of accounting regularly employed in keeping his books, or as conforming as nearly as may be to the best accounting practice in his trade or business. The respondent contends that the petitioner was a real estate dealer in 1923;... | |
 | United States. Internal Revenue Service - 1931 - 502 էջ
...inventories. — Section 22 (c) provides two tests to which each inventory must conform : (1) It must conform as nearly as may be to the best accounting practice in the trade or business, and (2) It mast clearly reflect the income. It follows, therefore, that inventory rules can not be uniform... | |
 | United States. Congress. Senate. Committee on Finance - 1954 - 1472 էջ
...requirement of section 22 (c) of the 1939 code and section 471 of the proposed new code in that it conforms to the best accounting practice in the trade or business and most clearly reflects the income. The Federal Power Commission has proposed a change of accounting practice in Its... | |
 | United States. Congress. Senate. Committee on Finance - 1954 - 656 էջ
...requirement of section 22 (c) of the 1939 code and section 471 of the proposed new code in that it conforms to the best accounting practice in the trade or business and most clearly reflects the income. The Federal Power Commission has proposed a change of accounting practice in its... | |
 | United States. Congress. House. Committee on Ways and Means - 1955 - 320 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." Under the authority granted, the Commissioner has promulgated... | |
 | United States. Congress. House. Committee on Ways and Means - 1955 - 364 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." Under the authority granted, the Commissioner has promulgated... | |
 | 1961 - 566 էջ
...inventories shall be taken by such taxpayer on such basis as the Secretary or his delegate 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. § 1.471-1 Need for inventories. In order to reflect taxable... | |
 | United States. Internal Revenue Service - 1974
...taxpayer, inventories shall be taken by such taxpayer on such basis as the Commissioner 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. Section 1.471-1 of the regulations provides, in pertinent part,... | |
 | United States. Internal Revenue Service - 1979 - 664 էջ
...taxpayer, inventory shall be taken by such taxpayer on such basis as the [Commissioner] may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting income." The implementing Regulations require a taxpayer to value inventory... | |
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