North American Oil Consolidated v. Burnet, 286 U.S. 417 (1932)
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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.
North American Oil Consolidated v. Burnet, 286 U.S. 417 (1932)
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North American Oil Consolidated v. Burnet No. 575 Argued April 20, 21, 1932 Decided May 23, 1932 286 U.S. 417
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE NINTH CIRCUIT
Syllabus
1. Section 13(c) of the Revenue Act of 1916, obliging receivers "operating the property and business of corporations" to make returns of net income "as and for such corporations," applied only where a receiver was in complete control of the entire properties and business of the corporation; otherwise, the return must be made by the corporation. P. 422.
2. Part of an operating property was taken over by a receiver in a suit challenging the owner’s title. Held, that the owner need not report income as of the year when it was collected by the receiver, while the right to it was in doubt, but must report it as income of the year when the amount collected was paid over to him and the bill dismissed. P. 423.
3. The fact that appeals from the decree were not determined in his favor until a later year did not defer the time for returning the income. P. 424.
50 F.2d 52 affirmed.
Certiorari, 284 U.S. 614, to review a judgment reversing a decision of the Board of Tax Appeals, 12 B.T.A. 68.
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Chicago: U.S. Supreme Court, "Syllabus," North American Oil Consolidated v. Burnet, 286 U.S. 417 (1932) in 286 U.S. 417 286 U.S. 418–286 U.S. 420. Original Sources, accessed November 25, 2024, http://originalsources.com/Document.aspx?DocID=1PPR2NMVRNLPAKH.
MLA: U.S. Supreme Court. "Syllabus." North American Oil Consolidated v. Burnet, 286 U.S. 417 (1932), in 286 U.S. 417, pp. 286 U.S. 418–286 U.S. 420. Original Sources. 25 Nov. 2024. http://originalsources.com/Document.aspx?DocID=1PPR2NMVRNLPAKH.
Harvard: U.S. Supreme Court, 'Syllabus' in North American Oil Consolidated v. Burnet, 286 U.S. 417 (1932). cited in 1932, 286 U.S. 417, pp.286 U.S. 418–286 U.S. 420. Original Sources, retrieved 25 November 2024, from http://originalsources.com/Document.aspx?DocID=1PPR2NMVRNLPAKH.
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