Par. 2. The above amendments to Regulations 103 (which regulations cover taxable years beginning after December 31, 1938) are hereby made applicable to taxable years beginning prior to January 1, 1939 (such years being covered by Regulations 101, 94, 86, 77, 74, 69, 65, 62, 45, and 33). Although under section 501 (c) the final determination by the Board of Tax Appeals or any court of the United States of the tax liability of any taxpayer for any such taxable year which, on September 20, 1940, was pending before, or was theretofore determined by, the Board of Tax Appeals, or any court of the United States, is not affected by the enactment of section 501, the rules stated in the regulations are applicable to such cases inasmuch as such rules are a proper interpretation of the law as it existed prior to the enactment of section 501. The limitation in section 501 (c) has application only to such taxpayer, and in the case of such taxpayer, only with respect to the tax liability for the specific year or years actually so pending on, or so determined prior to, September 20, 1940. (This Treasury Decision is prescribed pursuant to sections 62 and 3791 (b) of the Internal Revenue Code (53 Stat. 32, 467), corresponding provisions of prior internal revenue laws and section 501 of the Second Revenue Act of 1940 (Public, No. 801, 76th Cong., 3d sess.).) GUY T. HELVERING, Commissioner of Internal Revenue. Approved December 19, 1940: JOHN L. SULLIVAN, Acting Secretary of the Treasury. [Filed with the Division of the Federal Register December 20, 1940, 3:11 p. m.] INDEX A T. D. No. Accounting, administrative, regulations of T. D. 2872 and T. D. 2996, Alien individuals and corporations, nonresident, not engaged in trade or 4883 Aliens, nonresident, regulations affecting the taxation of 4975 Ammunition or firearms manufacturers, regulations relating to the licensing 4898 Amortization deductions, Second Revenue Act of 1940- 5016 Amortization for improvements, spread of; income tax- 4957 B Bankhead Cotton Act of 1934 as amended, amending article 3. 4943 5003 Bankruptcy cases, immediate assessment; income tax 4892 Banks, insolvent. Bonds: 4958 T. D. 4958 amended. 5018 Application of surety for relief from__ 5005 Issues and transfers; stamp taxes on. 4930 Stocks and, valuation of; regulations 79 (1936 ed.) amended; gift tax- 4901 4902 Butter, adulterated, and process or renovated, regulations prescribed Returns made under title III, act of 1936; title IX, Social Security Carriers Taxing Act of 1937: T. D. No. Certain services rendered excluded from_. 5017 4891 Claim, section 602, period of limitation for filing- 4942 Coal, certain services performed in the mining, preparation, handling or 5017 4962 Commodity Credit Corporation; income tax. 4918 Construction reserve funds, preliminary regulations for establishment of; 5023 Containers of distilled spirits, traffic in.. 4970 Contracts for naval vessels and Army and Navy aircraft, excess profits on 5000 4897, 4906 Corporate income tax; application, section 102, internal-revenue code. - 4914 5022 Ꭰ Debts, bad, deduction of by banks, or other corporations. Employees', employers' tax; regulations 91 amended- 4934, 4941 Employees' trusts; income tax.. 4973 Employers', employees', and employee representatives' tax; Regulations Returns made under title III, act of 1936, title IX, Social Security Act__ 4878 4956 Transfers in contemplation of death_ 5966 Valuation of stocks and bonds; Regulations 80 (1937 ed.) amended.. Returns made under title III, act of 1936; title IX, Social Security |