allowed
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 319 U.S. 523 - Virginian Hotel Corporation of Lynchburg v. Helvering · 1943Most cited · 221 citing opinions
Allowed' connotes a grant. Under our federal tax system there is no machinery for formal allowances of deductions from gross income. Deductions stand if the Commissioner takes no steps to challenge them. Income tax returns entail numerous deductions. If the deductions are not challenged, they certainly are 'allowed' since tax liability is the determined on the basis of the returns.