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).
26 U.S.C. § 161
AMENDMENTS1977- Pub. L. 95-30 substituted "section 63" for "section 63(a)".
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 1977 AMENDMENT Amendment by Pub. L. 95-30 applicable to taxable years beginning after Dec. 31, 1976, see section 106(a) of Pub. L. 95-30 set out as a note under sectionof this title.