annual accounting
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 286 U.S. 319 - Woolford Realty Co. v. Rose · 1932Most cited · 471 citing opinions
The general principal underlying the income tax statutes, ever since the adoption of the Sixteenth Amendment, has been the computation of gains and losses on the basis of an annual accounting for the transactions of the year.