Regulations 101 Relating to the Income Tax Under the Revenue Act of 1938 |
Common terms and phrases
adjusted basis adjusted net income allocated allowed amended applicable article 23 assessment assets bank basic surtax credit basis beneficiary bonds capital gain centum claim collector Commissioner common trust fund consent dividends credit cost December 31 deductible from gross deficiency depletion depreciation determined distribution domestic corporation earnings or profits employees entitled excess exempt expenses fair market value February 28 fiduciary filed foreign corporation foreign personal holding gain or loss gross income included in gross income from sources income tax insurance companies interest Internal Revenue inventory liability liquidation mineral nonresident alien individual obligations ownership paragraph partnership payment percent period personal holding company prescribed prior provided in section provisions of section purchase purpose refund regulations resident respect Revenue Act section 23 shareholder shares stock or securities surtax net incomes tax imposed taxable year beginning taxpayer term thereof tion trade or business transfer trust instrument United
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Page 251 - ... owned by him at the time of the adoption of the plan of liquidation shall be recognized only to the extent provided In subsections (e) and (f ). (b) Excluded Corporation. — For purposes of this section, the term "excluded corporation...