SIXTY-FIFTH CONGRESS. Sess. I. Ch. 63. 1917. 305 corporation or partnership which has fixed its own fiscal year, the WAR EQ'}? ”°““ percentage determined by the calendar year ending during such fiscal year sha be used. A t (b) The tax shall be assessed u on the basis of the deduction deter- ,4$,s$S§}%_ mined as provided in section two hundred and three, but the taxpayer mfjffms ‘°’ “"°‘°‘ claiming the benefit of this section may at the time of making the retum die a claim for abatement of the amount by which the tax so assessed exceeds a tax com uted upon the basis of the deduction _ determined as provided in tlliis section. In such event, collection of C°"°°"°”d°l°Y°"· the dpart of the tax covered b such claim for abatement shall not be ma e until the claim is decidled, but if in the judgment of the Commissioner of Internal Revenue, the interests of the United States would be jeopardized thereby he ma require the claimant to give a bond in such amount and with such sureties as the commissioner aa§°°"’ ‘°' P°Y'”°“‘· may think wise to safe a.rd such interests, conditioned for the pay- ment of any ta.x founfllio be due, with the interest thereon, and if such bond, satisfactory to the commissioner, is not given within such time as he ppescribes, the full amount of tax assessed shall be col- Ret { lected and the amount overpaid, if any, shall upon iinal decision of mmslrn ° °v°"”y` the application be refunded as a tax erroneously or illegally collected. Asaanaimag aa, ,a_ Sec. 206. That for the purposes of this title the net income of a ¤¤g¤¤1<!;§1¤·gi;gr¤ti¤¤¤- corporation shall be ascertained and retmned (a) for the calendar °r " years nineteen hundred and eleven and nineteen hundred and twelve ulgqp the same basis and in the same manner as (provided m section Vol 36 ua t y-eight of the Act entitled "An Act to provide revenue, equalize ’p' ° duties, and encourage the industries of the United States, and for other purposes," approved A t fifth, nineteen hundred and nine, mama aaaaa ,a_ except that income taxes paid gy it within the year imposed by the <=1¤d¤<1· authority of the United Statm shall be included; (b) for the calendar F mg year nineteen hundred and thirteen iipon the sameabasis and in the Vgl.38,i>.172. same manner as (provided in section of the Act entitled "An Act to reduce tariff uties and to provide revenue for the Government, and for other purposes," approved October third, nineteen hundred mama aaaaa ,a_ and thirteen, excegt that mcome taxes paid b it within the year <=1¤d¤<i- imposed by the authority of the United States shall be included, and T d di aanda except that the amounts received by it as dividends upon the stock asagiigiil W or from the net earnings of other corporations, joint·stock companies or associations, or insurance companies, subject to the tax imposed by section II of such Act of October third, nineteen hundred) and Fa, aaaabla yaaa thirteen, shall be deducted; and (c) for the taxable year upon the V I 39 _ same basis and in the same manner as provided in Tit e I of the Act °` ’ p` '°`°' entitled "An Act to increase the revenue, and for other purposes/’ ’°""»*’·3“°'· approved September eighth, nineteen hundred and sixteen, as Taapaia amaaada amended by this Act, except that the amounts received by it as ¤¤¤¤¤x>=¤<1· dividends upon the stock or from the net earnings of other corporations, joint-stock companies or associations, or insurance companies, subject to the tax imposed by Title I of such Act of September eighth, nineteen hundred and sixteen, shall be deducted. Pmmm or m_ The net income of a partnership or individual shall be ascertained aiviauaa. PS and returned for the calendar years nineteen hundred and eleven, nineteen hundred and twelve, and nineteen hundred and thirteen, and for_the taxable year, upon the same basis and in the same manner P°"* P' 33* as provided in Title I of such Act of September eighth, nineteen hun- T a mma at dred and sixteen, as amended by this Act, except that the credit allowed bylsubdivision (b) of section five of suc Act shall be de- D‘,§i§2g,§,;§5°g]I0w,d ducted. ere shall be allowed (a) in the case of a domestic part- iwmvrshlvsnership the same deductions as aHowed to individuals in subdivision _ (a) of section five of such Act of September eighth, nineteen hundred Elias, gums. and sixteen, as amended by this_Act ; and (b) in the case of a fore-zi?} °' ` P§¤fl7I}8FSl11p the 88.1118 deductions as allowed to individuals in su ;:;°·&l°°‘ d1V}S10I1 (a) of section six of such Act as amended by this Act. ’p` ` 112460°—·voL 40-r-r 1—-20
