No deduction shall be allowed for amounts paid or accrued for such taxes and carrying charges as, under regulations prescribed by the Secretary, are chargeable to capital account with respect to property, if the taxpayer elects, in accordance with such regulations, to treat such taxes or charges as so chargeable.
Aug. 16, 1954, ch. 73668A Stat. 78Pub. L. 94–455, title XIX, § 1906(b)(13)(A)90 Stat. 1834(, ; , , .)
Editorial Notes
Amendments
Pub. L. 94–4551976— struck out “or his delegate” after “Secretary”.