 | United States. Court of Claims, Audrey Bernhardt - Law reports, digests, etc - 1958 - 966 pages
..."net income," the cases are quite settled on the point that it does not mean "gross receipts." * * * In order to determine whether there has been gain...the commencement of the period under consideration. Doyle v. Mitchell Brothers Co., 247 US 179, 185. On this subject Mertens, Law of Federal Income Taxation,... | |
 | 1925 - 822 pages
...received "from all sources"; and by applying to this the authorized deductions we arrive at "net income." In order to determine whether there has been gain or loss, and the amount of the gain, we must withdraw from the gross proceeds an amount sufficient to restore the capital value that existed... | |
 | United States. Supreme Court - Law reports, digests, etc - 1918 - 628 pages
...received "from all sources"; and by applying to this the authorized deductions we arrive at "net income." In order to determine whether there has been gain...the commencement of the period under consideration. ยป This has been recognized from the beginning by the administrative officers of the Government. Shortly... | |
 | United States. Supreme Court - Law reports, digests, etc - 1918 - 624 pages
...received "from all sources"; and by applying to this the authorized deductions we arrive at "net income." In order to determine whether there has been gain...the commencement of the period under consideration. This has been recognized from the beginning by the administrative officers of the Government. Shortly... | |
 | Robert Hiester Montgomery - Auditing - 1927 - 880 pages
...received "from all sources"; and by applying to this the authorized deductions we arrive at "net income." In order to determine whether there has been gain...that existed at the commencement of the period under consideration.10 Income may be defined as the gain derived from capital, from labor. or from both combined,... | |
 | Accounting - 1918 - 498 pages
...rather the idea of gain or increase arising from corporate activities. 4. Determination of gain or loss. In order to determine whether there has been gain or loss and the amount of the gain, if any, an amount must be withdrawn from the gross proceeds of sale sufficient to restore the capital value... | |
 | William Mark McKinney - Law - 1920 - 1558 pages
...to determine whether there has been a gain and the amount of the gain if any there must be withdrawn from the gross proceeds an amount sufficient to restore...the commencement of the period under consideration.' When property acquired before the income tax act went into effect is sold afterward at an advance,... | |
 | United States - Internal revenue law - 1920 - 1052 pages
...Mortgage indebtedness not assumed by corporation; interest may be deducted. (28 Op. Atty. Gen., 108.) e of immediate export therefrom : an amount must be withdrawn from the gross proceeds of stile sufficient to restore the capital value... | |
 | United States - Internal revenue law - 1920 - 1064 pages
...Mortgage Indebtedness not assumed by corporation; Interest may be deducted. (28 Op. Atty. Gen., 198.) or, if a solid or semisolid preparation, in one avoirdupois ounce : or to liniments, oi uuy, an amount must be withdrawn from the gross proceeds of sale sufficient to restore the capital... | |
 | Thomas Sewall Adams - Income tax - 1921 - 296 pages
...received from all sources," and by applying to this the authorized deductions we arrive at "net income." In order to determine whether there has been gain...value that existed at the commencement of the period unde consideration. This has been recognized from the beginning by the administrative officers of the... | |
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In order to determine whether there has been gain or loss, and the amount of the gain, if any, we must withdraw from the gross proceeds an amount sufficient to restore the capital value that existed at the commencement of the period under consideration. 
