 | United States. Board of Tax Appeals - Taxation - 1930 - 1460 pages
...expenditure was for u purpose coming within the provisions of the taxing act allowing a deduction for ordinary and necessary expenses paid or incurred in carrying on a trade or business. In GT Wojford, 15 BTA 1225, the petitioner was engaged in buying and selling gasoline, oils, greases,... | |
 | United States - Law - 1964 - 1098 pages
...reduced by the amount (if any) required by section 162(d) to be treated (with respect to such share) as ordinary and necessary expenses paid or incurred in carrying on a trade or business. (Added Pub. L. 86-770, 88(b), Sept. 14, 1060, 74 Stat. 1003.) EFFECTIVE DATE Section applicable with... | |
 | United States. Supreme Court - Taxation - 1945 - 446 pages
...net income were not allowed deductions from gross [66] income for expenses incurred unless they were "ordinary and necessary expenses paid or incurred ... in carrying on a trade or business." Con*Page 195 herein. gress, by this new section, introduced a new type of deduction, for as the House... | |
 | Administrative law - 1970 - 868 pages
...reduced by the amount (if any) required by section 162 (d) to be treated (with respect to such share) as ordinary and necessary expenses paid or incurred in carrying on a trade or business. [Sees. 1054 as added by sec. 8. Act of Sept. 14, 1960 (Pub. Law 86-779, 74 Stat. 1003) 1 [TD 6690,... | |
 | United States. Internal Revenue Service - Tax administration and procedure - 1963 - 1436 pages
...reduced by the amount (if any) required by section 162(d) to be treated (with resi>ect to such share) as ordinary and necessary expenses paid or incurred in carrying on a trade or business. [Sec. 1054 as added by sec. 8, Act of Sept. 14, 1960 (Pub. Law 80-779. 74 Stat. 1003 [CB 1900-2, 709]... | |
 | United States. Congress. House. Committee on Ways and Means - Income tax - 1953 - 1536 pages
...expenses by providing that — Expenses paid or incurred for the care of a child shall be treated as expenses paid or incurred in carrying on a trade or business if (1) such child is a dependent of the taxpayer and has not attained the age of 16 years; and (2) such... | |
 | United States. Internal Revenue Service - Tax administration and procedure - 1954 - 1182 pages
...deductible under sections 23 (o) and (q) of the Code. In such case, however, membership dues may qualify as ordinary and necessary expenses paid or incurred in carrying on a trade or business within the meaning of section 23 (a) of the Code. Section 39.23(a)-f> of Regulations 118 provides that... | |
 | United States. Congress. Senate. Committee on Labor and Public Welfare - 1955 - 1704 pages
...contributions to these welfare funds are deductible under section 162 of the code relating to deduction of ordinary and necessary expenses paid or incurred in carrying on a trade or business. There are no mathematical or actuarial limitations on these deductions as there are with respect to... | |
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... ordinary and necessary expenses paid or incurred in carrying on a trade or business. 
