Committee Prints

Front Cover
U.S. Government Printing Office, 1963

From inside the book

Other editions - View all

Common terms and phrases

Popular passages

Page 9 - For the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body...
Page 50 - Secretary or his delegate under this subtitle corresponding to the regulations which granted the option to deduct as expenses intangible drilling and development costs in the case of oil and gas wells and which were recogmzed and approved by the Congress in House Concurrent Resolution 50, Seventy-ninth Congress.
Page 6 - ... (3) losses of property not connected with a trade or business, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft...
Page 13 - A reasonable allowance for salaries or other compensation for personal services actually rendered; (2) Traveling expenses (including amounts expended for meals and lodging other than amounts which are lavish or extravagant under the circumstances) while away from home in the pursuit of a trade or business...
Page 27 - Commissioner is authorized to distribute, apportion, or allocate gross income, deductions, credits, or allowances between or among such organizations, trades, or businesses, if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such organizations, trades, or businesses.
Page 49 - However, if property used in a trade or business or held for the production of income...
Page 27 - In the hands of the transferor corporation, and the principal purpose for which such acquisition was made Is evasion or avoidance of Federal Income tax by securing the benefit of a deduction, credit, or other allowance which such person or corporation would not otherwise enjoy, then such deduction, credit, or other allowance shall not be allowed.
Page 50 - If the stock options do not qualify as restricted, then the difference between the option price and the value of the stock at the time...
Page 7 - The recipient organization must be one which normally receives a substantial portion of its support from the United States or any State or political subdivision thereof or from direct or indirect contributions from the general public, or from a combination of two or more of such sources.
Page 95 - Effective date This provision applies to taxable years beginning after December 31, 1963.

Bibliographic information