In computing taxable income under section 63, there shall be allowed as deductions the items specified in this part, subject to the exceptions provided in part IX (sec. 261 and following, relating to items not deductible).
Aug. 16, 1954, ch. 73668A Stat. 45Pub. L. 95–30, title I, § 102(b)(1)91 Stat. 137(, ; , , .)
Editorial Notes
Amendments
Pub. L. 95–301977— substituted “section 63” for “section 63(a)”.
Statutory Notes and Related Subsidiaries
Effective Date of 1977 Amendment
Pub. L. 95–30section 106(a) of Pub. L. 95–30section 1 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .