abnormal income
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 367 U.S. 303 - Jarecki v. G. D. Searle & Co. · 1961Most cited · 994 citing opinions
income of any class described in paragraph (2) includible in the gross income of the taxpayer for any taxable year under this subchapter if it is abnormal for the taxpayer to derive income of such class, or, if the taxpayer normally derives income of such class but the amount of such income of such class includible in the gross income of the taxable year is in excess of 115 per centum of the average amount of the gross income of the same class for the fou