Sec. 1.241-1 Allowance of special deductions.

A corporation, in computing its taxable income, is allowed as deductions the items specified in Part VIII (section 242 and following), Subchapter B, Chapter 1 of the Code, in addition to the deductions provided in part VI (section 161 and following) Subchapter B, Chapter 1 of the Code.

[Adopted by T.D. 6183, 21 FR 4075, June 14, 1956; republished by T.D. 6500, 25 FR 11402, Nov. 26, 1960.]