Building and Loan Associations Charitable, Educational, etc., Corporati Pleasure, etc., Clubs Mutual Insurance Companies, etc., of L Farmers' Associations Operating as Sal Holding Companies Federal Land Banks and National Farm Personal Service Corporations Sec. 232.- Net Income Defined Foreign Corporations ..... Sec. 234.- Deductions Allowed Business Expenses ...... Interest Paid or Accrued Sec. 235.- Items Not Deductible Interest upon U. S. Obligations and Bon Taxes Specific Exemption for Domestic Corpor Second Bracket Income from Government Contracts Deductions Sec. 302.- Limit of Amount of Tax Sec. 303.-Computation of Tax Sec. 304. Exempt Corporations ....... Sec. 305.-Reduction of Specific Exemptio Sec. 310.-Credits "Prewar period" defined Sec. 311.- War Profits Credit Sec. 312.- Excess Profits Credit Sec. 320. Ascertaining and Returning of Sec. 325. Invested Capital Definitions Intangible Property Tangible Property Borrowed Capital Inadmissible Assets Admissible Assets Stock having no Par Value Sec. 326. "Invested Capital" Defined an Deductions from Invested Capital ... Invested Capital for Period .... Sec. 327. Determination of Taxes in Cer- Partnerships or Individuals Sec. 331. Re-organization after March 3, Sec. 335. Computation where Fiscal Yea |