The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1909-08-25

serve fund; (sixth) the amount of in
terest actually paid within the year on
its bonded or other Indebtedness to
an amount OF such bonded and other
Indebtedness not exceeding the paid
up capital stock OF such corporation,
Joint stock company or association, or
insurance company, outstanding at the
close of the year, and in the case of a
bank, banking association or trust
company, stating separately all inter-
est paid by it within the year on de-
posits or in case of a corporation,
Jo.nt stock company or association, or
insurance company, organized under
the laws of a foreign country, interest
so paid on its bonded or other indebt-
eGress to an amount of such bonded
and other Indebtedness not exceeding
the proportion of its paid-up capital
stock outstanding at the close of the
year, which the gross amount OF It's
income for the year from business tran
sacted and capital invested within the
United States and any of its Terri
tories, Alaska and the District OF Co.
lumbia, bears to the gross amount or
it's income derived from all sources
within and without the United States;
(seventh) the amount paid by it with
in the year for taxes imposed under the
authority of the United States or any
State or Territory thereof, and sepa-
rately the mount so paid by it for
taxes imposed by the government Of
any foreign country as a condition 10
carrying on business therein; (eighth)
the net income of such corporation,
joint stock company or association, or
insurance company, after making the
deductions in this section authorized.
All such returns shall as received be
transmitted forthwith by the collector
to the Commissioner of Internal Re-
venue.
Fourth. Whenever evidence shall
be produced before the Commissioner
of Internal Revenue which in the OPT
MON of the commissioner justifies the
belief that the return made by any cor
poration, joint stock company or asso-
citation, or insurance company is in
correct, or whenever any collector shall
report TO the Commissioner of Internal
Aevenue that any corporation, joint
stock company or association or insur-
ance company has failed to make Il
return as required by law, the Com
missioner of Internal Revenue may re-
quire from the corporation, joint stock
company or association, or insurance
company making such return, such
further information with reference to
it's capital, income, losses, and eXpen-
ditures as he may deem expedient; and
the Commissioner of Internal Revenue,
for the purpose of ascertaining the cor
rectness of such return or for the pur-
pose of making a return where none
has been made, is hereby authorized,
by any regularly appointed revenue
agent specially designated by him for
that purpose, to examine any books
and papers bearing upon the matters
required to be included in the return
of such corporation, joint stock COM
pany and to require the attendance OF
any officer or employee of such corpor-
alton, joint stock company or assocla-
ton or Insurance company, and to
take his testimony with reference to
the matter required by law to be in
Guided in such return, with power TO
administer oaths to such person or
persons and the Commissioner OF In
ternal Revenue may also invoke the
aid of any court of the United States
having jurisdiction to require the at
tendance OF such officers or employees
and the production of such books and
papers. Upon the information so ac-
quired the Commissioner of internal
Revenue may amend any return OF
make a return where none has been
made. All proceedings taken by the
Commissioner or Internal Revenue UNI
der rpe provisions Of this section shall
he subject to the approval of the Sec
Ieta,y Of the Treasury.
Fifth. All returns shall be retain
ed Dy the Commissioner of Internal
Revenue, who shall make assessments
thereon and in case of any return
made with false or fraudulent intent,
he shall add one hundred per centum
of such tax, ana in case of refusal or
neglect to make a return or to verify
the same as aforesaid he shall add
fifty per centum of such tax. in
case OF neglect occasioned by the sick
ness or absence of an officer of such
corporation, joint stock company or
ASSOCIATION, or insurance company, re-
quired to make said return, or for
other sufficient reason, the collector
may allow such further time for max
ing and delivering such return as he
may deem necessary, not exceeding
thirty days. The amount so added
to the lax shall be collected at the
same time and in the same manner as