 | New York (State) - Session laws - 1935 - 1272 pages
...period or does not keep books, the net income shall be computed on the basis of the calendar year. Such net income shall be computed in accordance with the...regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | United States. Court of Claims - Law reports, digests, etc - 1946 - 936 pages
...not entitled to deduct these amounts, notwithstanding the provisions of section 41 of the Code, which provides that — The net income shall be computed...regularly employed in keeping the books of such taxpayer. * * * This section cannot be construed to mean that a taxpayer is entitled to a deduction not allowed... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1962 - 962 pages
...Internal Revenue Code of 1939 and § 446 of the Internal Revenue Code of 1954. Section 41 required that "the net income shall be computed ... in accordance...accounting regularly employed in keeping the books . . . but . . . if the method employed does not clearly reflect the income, the computation shall be... | |
 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1955 - 908 pages
...inconsistent with the method of accounting which it employs. Section 41 states the general rule that net income shall be computed "in accordance with the...accounting regularly employed in keeping the books" of the taxpayer. Section 43 provides that deductions and credits may be taken "for the taxable year in... | |
 | United States. Court of Claims - Law reports, digests, etc - 1930 - 852 pages
...and accounts payable for expense incurred. * * * This appears from the fact that ordinarily it is to be computed in accordance with the method of accounting regularly employed in keeping the books of the taxpayer. "ARTICLE 22. Computation of net income. — * * * If the method of accounting regularly... | |
 | Bankruptcy - 1927 - 1070 pages
...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 no such method of accounting lias been go employed, or if the method employed does not clearly... | |
 | Lumber - 1919 - 246 pages
...income shall be computed upon the basis of the taxpayer's annual accounting period * * * in accordance with the method of accounting regularly employed in keeping the books of such taxpayer. Where no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | Robert Hiester Montgomery - Excess profits tax - 1920 - 1304 pages
...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 no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | Economics - 1919 - 982 pages
...are to be made by the Commissioner of Internal Revenue for dealing with special cases. For example, "the net income shall be computed ... in accordance...regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly... | |
 | George Edwin Holmes - Excess profits tax - 1919 - 1052 pages
...receipts and disbursements. Reporting Deductions According to Book Entries. The present law requires that net income shall be computed in accordance with the...accounting regularly employed in keeping the books of a taxpayer ; but if no such method of accounting has been so employed or if the method1 employed does... | |
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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... 
