Show GROSS G ROS S INCOME HRC 0 M E IS I 1 S HERE interpreted ED inquiries have beel re to regarding the ithe proper interpret Inter pre of station dt of the bevenue revenue net act of 1031 1021 which provide provides that ach I 1 I 1 individual n otiose groia grois income for lual wan wall it or otie shall file lie a return rc gardle of hie his or tier ber net income grow gross income means statutory gross income defini cd by the revenue act to include ga lne profit profits and income derived from ra larlor wages or comben bation for personal service of whatever kind and in whatever form paid palk or olt from vocations roca tiona treles buel bust noM commette or bales sales or dealing dealings ia property whether real or personal pe nonal growing out of the ownership ta or ue use of 1 or lute reat la in each ouch pro property potty I 1 also from frow interest Int crot rent dividends ke to entities curl tica or he transaction of any busl bust ness er evir arriol riol riel on for gala gain or profit or fraine rains or profit profits end and income derived from any source whatever gross gincomo does not necessarily necess arli y in e an gross receipts A merchant for instance a stance in computing statutory grosi gross Iv income coule abo should u III deduct the eort cost of good goods eold old for exAm pv a m mw chant may have grom gross receipt rampant ing gg to but the tile cost of goods sola amount amounts to he ile ha has no other income the statutory ata gross aro in come would be 11 in case the other deduction deductions allowed him for bul bust taxes bad fleets 1 etc ete amount to 2500 his hi net aneo gincomo no would be zoo no return if income ie Is required in till CASO A lawyer who ie Is married and living V with ith his hi wife has ha gross reemts in the tile form of feel amounting to and 14 b basilica biness iness expenses amount to 42 1100 leaving a net income of only 1800 A return will be required tn in this CAR as its taxpayer gross income as well as gross gro ie is |