 | United States. Board of Tax Appeals - 1934 - 1646 էջ
...to the best accounting practice in the trade or business and as most clearly reflecting the Income. SEC. 41. GENERAL. RULE. — The net Income shall be...the Commissioner does clearly reflect the income. * * * Pursuant to section 22 (c), supra, the respondent promulgated in his Regulations 74, under the... | |
 | United States. Board of Tax Appeals - 1935 - 1394 էջ
...Commissioner's regulations. Section 41 of the Revenue Act of 1928 provides in part: BEO. 41. GENERAL KTJLE. The net income shall be computed upon the basis of...the opinion of the Commissioner does clearly reflect ihe income. * * « Section 22 (c) of the same act provides: (c) Inventories. — Whenever In the opinion... | |
 | United States, United States. Congress. House. Committee on Ways and Means - 1936 - 308 էջ
...regularly employed in keeping the hooks of such taxpayer; but if no such method of accounting has heen so employed, or if the method employed does not clearly...annual accounting period is other than a fiscal year as denned in section 48 or if the taxpayer has no annual accounting period or does not keep books, the... | |
 | 1920 - 1042 էջ
...does not clearly reflect the income, the computation shall be made upon such basis and in such manner as in the opinion of the commissioner does clearly...is other than a fiscal year as defined in section 200 or if the taxpayer has no annual accounting- period or does not keep books, the net income shall... | |
 | United States - 1953 - 1744 էջ
...former cross-reference to section 466 (e). PART IV. — ACCOUNTING PERIODS AND METHODS OP ACCOUNTING § such property is included in the decedent's gross estate, IÍ the taxpayer's annual accounting period is other than a fiscal year as defined in section 48 or... | |
 | United States. Board of Tax Appeals - 1942 - 1324 էջ
...will be entered wider Rule 50. SMITH, dissenting : Section 41 of the Revenue Act of 1934 provides : The net income shall be computed upon the basis of...the Commissioner does clearly reflect the Income. * * * The petitioner kept its books of account upon the accrual basis and made its income tax returns... | |
 | United States. Tax Court - 1943 - 1262 էջ
...period which was completed in 1938. Section 41 of the Revenue Act of 1938 provides in part as follows : SEC. 41. GENERAL RULE. The net income shall be computed...the Commissioner does clearly reflect the income. * * * Section 43 of the same Act provides in part : 8EC. 43. PERIOD FOR WHICH DEDUCTIONS AND CREDITS... | |
| |
The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer ; but if... 
