...and above $5,000, with exceptions not here pertinent. The second paragraph of § 38 provided : "Such net income shall be ascertained by deducting from the gross amount of the income of such ... insurance company . . . (second) all losses actually sustained within the year and not compensated...

...dividends upon stocks of other corporations * * * subject to the tax hereby imposed. * * * Second. Such net income shall be ascertained by deducting from the gross amount of the income of such corporation * * * received within the year from all sources (first) all the ordinary and necessary expenses actually...

...Section 12 (a), act of 1916, 39 Stat. 756, provides as follows : "In the case of a corporation * * * such net income shall be ascertained by deducting from the gross amount of its income received within the year from all sources, first, all the ordinary and necessary expenses...

...organized in the United States, no matter how created or organized, not including partnerships. "Such net income shall be ascertained by deducting from...within the year from all sources, (first) all the income arising or accruing from, all sources on each insurance plan and at each age of during the preceding...

...report, and did report, what it alleged to bo its "entire net income." By provisions of this section such net income "shall be ascertained by deducting from the gross amount of the income of such • * * insurance cornpauy, received within the year from all sources, * * • (2) all losses actually...

...United States, such net Income shall be ascertained by deducting from the gross amount of Its Income received within the year from all sources — "First. All the ordinary and necessary expenses paid within the year In the maintenance and operation of its business and properties, Including rentals...

...the net income of which inures to the benefit of any private stockholder or individual. "Second. Such net income shall be ascertained by deducting from...the gross amount of the income of such corporation, joint stock company or association, or insurance company, received within the year from all sources,...

...or insurance company, organized, authorized, or existing under the laws of any foreign country, such net income shall be ascertained by deducting from the gross amount of its income received within the year from all sources within the United States — "First. All the ordinary...

...deducting from the gross amount of the income of such corporation, joint-stock company or association received within the year from all sources (first)...necessary expenses actually paid within the year out of income_in the maintenance and operation of its business and properties, including all charges, such...

...be ascertained according to the definitions above applicable thereto. ARTICLE 3. — Net income. Xet income shall be ascertained by deducting from the gross amount of the income of such corporation, joint stock company or association, or insurance company, received within the year from all sources,...