True taxable income means, in the case of a controlled taxpayer, the tax- able income that would have resulted had it dealt with the other member or members of the group at arm’s length. It does not mean the taxable income resulting to the controlled taxpayer by reason of the particular contract, transaction, or arrangement the con- trolled taxpayer chose to make (even though such contract, transaction, or arrangement is legally binding upon the parties thereto).
True taxable income of a controlled taxpayer means the taxable income that would have resulted if such taxpayer had dealt with other members of its group at arm’s length. Treas. Reg. § 1.482-1(i)(9). “Group” refers to taxpayers owned or controlled directly or indirectly by the same interests. Treas. Reg. § 1.482-1(i)(6). Treas. Reg.
Examples of True taxable income in a sentence
True taxable income means, in the case of a controlled taxpayer, the taxable income that would have resulted had it dealt with the other member or members of the group at arm's length.