Code Sections Summary Tables

In 1913, 1915, and 1916, the R had net losses. In 1914, it had no net income. In 1915, work stopped and a breach of warranty claim was brought. The R recovered expenses and interest in that suit, but didn't include the amount as gross income in its tax return for 1920. The IRS said both parts should have been included in gross income. The court ... ................
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