Show ASCERTAIN INCOME OF CORPORATIONS WASHINGTON ASHINGTON V Jan 1 1 Where I.-Where Where a corporation through its books or otherwise otherwise other other- wise Vise can ascertain its ite income sufficiently sufficient sufficient- ly for the officers to make m ke oath to the return as true this will be bo regarded regarded re reo re- re as equivalent to an inventory and a physical inventory need not be betaken taken It is realized however that in in the cases of man many corporations their incomes in comes for the tho calendar year cannot be I ascertained without taking a physical inventory at the end of the Calendar year and the law being explicit both as to the period and the income where such income cannot be ascertained without a physical inventory this will have to be taken These are the tho views expressed by bythe bythe I the internal revenue office in to response to inquiries from corporations which are finding themselves embarrassed in making returns for income tax purposes pur purr poses in cases where their fiscal year is tS not identical with the calendar year |