Reports of the Tax Court of the United States, Том 37U.S. Government Printing Office, 1962 |
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accrual agreed agreement amount assets Bank base period basis business expenses calcium carbonates capital gain cash certiorari City Savings claim Clay Brown coal Commissioner Company computed conduit contract corporation cost Court debentures debt December December 31 deduction deficiency director of internal disallowed Docket duct electric employees excess profits tax expenditures Falstaff beer filed follows French Morocco gift tax gross income held hereinafter income tax returns installed interest Internal Revenue Code involved issue January Laneco lease liability loan loss March 15 McGraw Melvin ment Missisquoi notes operating ordinary and necessary ordinary income paid parties partnership payments percent peti petitioner petitioner's premium prior production purchase purpose receipt received regulations Reiner's residence respect Respondent determined respondent's shares sold stipulated stockholders supra taxpayer thereof tion tioner trade or business transaction transfer trust United
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Страница 96 - Stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Страница 863 - If, during the taxable year, the recognized gains on sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or the threat or imminence thereof...
Страница 407 - ... traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business...
Страница 122 - June 6, 1932, the compensation received as such shall be included in gross income. (b) Exclusions from gross income. The following items shall not be included in gross income and shall be exempt from taxation under this chapter: (1) Life insurance.
Страница 863 - No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock or securities in such corporation and immediately after the exchange such person or persons are in control (as defined in section 368 (c) ) of the corporation. For purposes of this section, stock or securities issued for services shall not be considered as issued in return for property.
Страница 68 - Between members of a family, as defined in paragraph (2) (D); (B) Except in the case of distributions in liquidation, between an individual and a corporation more than 50 per centum in value of the outstanding stock of which is owned, directly or indirectly, by or for such individual...
Страница 863 - In addition to such stock or securities), or (B) as paid-in surplus or as a contribution to capital, then the basis shall be the same as it would be In the hands of the transferor, Increased In the amount of gain or decreased In the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.
Страница 816 - For the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body...
Страница 67 - An individual shall be considered as owning the stock owned, directly or indirectly, by or for his family...
Страница 123 - Amounts received under a life insurance contract paid by reason of the death of the insured, whether in a single sum or otherwise (but if such amounts are held by the insurer under an agreement to pay interest thereon, the interest payments shall be included in gross income); (2) ANNUITIES, ETC.