taxability
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 303 U.S. 493 - Guaranty Trust Co of New York v. Commissioner of Internal Revenue · 1938Most cited · 186 citing opinions
Receipt of income or accrual of the right to receive it within the tax year is the test of taxability, not the time it has taken the taxpayer to earn it nor the duration of his investments which have finally resulted in profit.