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Kieselbach v. Commissioner, 317 U.S. 399 (1943)
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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.
Kieselbach v. Commissioner, 317 U.S. 399 (1943)
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Kieselbach v. Commissioner of Internal Revenue No. 184 Argued December 11, 1942 Decided January 4, 1943 317 U.S. 399
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE THIRD CIRCUIT
Syllabus
Title to real property in the City of New York was taken by the City, together with the possession and the right to all after-accruing rents, by a proceeding in condemnation under § 976 of the Greater New York Charter. Several months later, the final decree awarded the former owners, as just compensation, the value of the property on the day of taking, with interest thereon from that date till the date of payment.
Held: that the part of the award designated as "interest," although it was part of the "just compensation" that must be paid the owner to justify the taking, was not a part of the sale price of a capital asset under § 117(a) of the Revenue Act of 1936, and was taxable as income under § 22 of that Act. P. 403.
127 F.2d 359 affirmed.
Certiorari, post, p. 612, to review a judgment which reversed a decision of the Board of Tax Appeals, 44 B.T.A. 279, overruling a deficiency income tax assessment.
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Chicago: U.S. Supreme Court, "Syllabus," Kieselbach v. Commissioner, 317 U.S. 399 (1943) in 317 U.S. 399 317 U.S. 400. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=1R7XKEG697TWJFD.
MLA: U.S. Supreme Court. "Syllabus." Kieselbach v. Commissioner, 317 U.S. 399 (1943), in 317 U.S. 399, page 317 U.S. 400. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=1R7XKEG697TWJFD.
Harvard: U.S. Supreme Court, 'Syllabus' in Kieselbach v. Commissioner, 317 U.S. 399 (1943). cited in 1943, 317 U.S. 399, pp.317 U.S. 400. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=1R7XKEG697TWJFD.
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