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Helvering v. F. & R. Lazarus & Co., 308 U.S. 252 (1939)
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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.
Helvering v. F. & R. Lazarus & Co., 308 U.S. 252 (1939)
Helvering v. F. & R. Lazarus & Co. No. 56 Argued November 14, 1939 Decided December 4, 1939 308 U.S. 252
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SIXTH CIRCUIT
Syllabus
1. In computing income tax under the Revenue Act of 1928, a taxpayer is entitled to the deduction for depreciation in respect of properties used in its business under leases from a trustee to whom the properties had been conveyed by the taxpayer in a transaction which, in reality, was a mortgage. P. 254.
2. A finding by the Board of Tax Appeals that a transaction between the taxpayer and a trustee bank -- in written form a transfer of ownership with a lease back -- was, in reality, a mortgage, is conclusive on the courts, although the evidence on the subject permits conflicting inferences. Pp. 254-255.
3. Proceedings before the Board of Tax Appeals are equitable in nature. P. 255.
101 F.2d 728 affirmed.
Certiorari, post, p. 537, to review the affirmance of a decision of the Board of Tax Appeals, 32 B.T.A. 633, upholding a taxpayer’s claim for allowance of a deduction for depreciation in computation of income tax.
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Chicago: U.S. Supreme Court, "Syllabus," Helvering v. F. & R. Lazarus & Co., 308 U.S. 252 (1939) in 308 U.S. 252 Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=1MZ7XXDU9FS4P6T.
MLA: U.S. Supreme Court. "Syllabus." Helvering v. F. & R. Lazarus & Co., 308 U.S. 252 (1939), in 308 U.S. 252, Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=1MZ7XXDU9FS4P6T.
Harvard: U.S. Supreme Court, 'Syllabus' in Helvering v. F. & R. Lazarus & Co., 308 U.S. 252 (1939). cited in 1939, 308 U.S. 252. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=1MZ7XXDU9FS4P6T.
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