Preservation of books of accounts, and other accounting records.
Section 337
SEC. 337. Preservation of books of accounts, and other accounting records. — All the books of accounts, including the subsidiary books, and other accounting records, of such corporations, companies, partnerships, or persons shall be preserved by them for a period of at least five years from the date of the last entry in each book and shall be subject to examination and inspection at any time by internal-revenue officers: Provided, That all corporations companies, partnerships, or persons, who retire from business shall, within ten days from the date of such retirement or within such period of time as may be allowed by the Collector of Internal Revenue in special cases, submit their books of accounts, including the subsidiary books, and other accounting records, to the Collector of Internal Revenue or any of his deputies for examination, after which they shall be returned.