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Welch v. Helvering, 290 U.S. 111 (1933)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Welch v. Helvering, 290 U.S. 111 (1933)
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Welch v. Helvering No. 33 Argued October 19, 1933 Decided November 6, 1933 290 U.S. 111
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE EIGHTH CIRCUIT
Syllabus
1. What are "ordinary and necessary expenses" in carrying on a business, within the meaning of provisions of Revenue Acts allowing deductions of such expenses in computing net income, must be determined by conduct and forms of speech prevailing in the business world. P. 113.
2. The Court cannot say, in the absence of proof and as a matter of judicial knowledge, that payments on the debts of a corporation, made by its former officer after its discharge in bankruptcy and for the purpose of strengthening his own business standing and credit were ordinary and necessary expenses of his business. P. 115.
3. A finding by the Commissioner of Internal Revenue that such payments are not ordinary and necessary expenses of a taxpayer, and hence not deductible under the revenue acts and regulations in computing his net income, is presumptively correct. P. 115.
63 F.2d 976 affirmed.
Certiorari, 289 U.S. 720, to review a judgment of the Circuit Court of Appeals which affirmed the action of the Board of Tax Appeals, 25 B.T.A. 117, disallowing certain deductions in an income tax return.
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Chicago: U.S. Supreme Court, "Syllabus," Welch v. Helvering, 290 U.S. 111 (1933) in 290 U.S. 111 290 U.S. 112. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=117BJ35WSHHAUPI.
MLA: U.S. Supreme Court. "Syllabus." Welch v. Helvering, 290 U.S. 111 (1933), in 290 U.S. 111, page 290 U.S. 112. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=117BJ35WSHHAUPI.
Harvard: U.S. Supreme Court, 'Syllabus' in Welch v. Helvering, 290 U.S. 111 (1933). cited in 1933, 290 U.S. 111, pp.290 U.S. 112. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=117BJ35WSHHAUPI.
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