|
|
Koshland v. Helvering, 298 U.S. 441 (1936)
Contents:
Show Summary
Hide Summary
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.
Koshland v. Helvering, 298 U.S. 441 (1936)
Koshland v. Helvering No. 774 Argued May 1, 1936 Decided May 18, 1936 298 U.S. 441
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE NINTH CIRCUIT
Syllabus
1. Common voting shares of a corporation received by the holder of cumulative preferred shares as a dividend held income, and not to be treated as returns of capital. P. 443.
Therefore, upon a subsequent sale or other disposition of the preferred shares, no part of their original cost is to be apportioned to such common shares for the purpose of determining the gain or loss from such disposition.
2. An administrative construction, the effect of which is to convert an income tax imposed by a statute into a capital levy, cannot be adopted. P. 445.
3. Where the provisions of an Act are unambiguous and its directions specific, there is no power to amend it by regulations. P. 446.
81 F.2d 641 reversed.
Review by certiorari, 297 U.S. 702, of a judgment reversing a decision of the Board of Tax Appeals, 33 B.T.A. 634, and approving the action of the Commissioner of Internal Revenue in increasing an income tax assessment.
Contents:
Chicago: U.S. Supreme Court, "Syllabus," Koshland v. Helvering, 298 U.S. 441 (1936) in 298 U.S. 441 298 U.S. 442. Original Sources, accessed November 25, 2024, http://originalsources.com/Document.aspx?DocID=6NSNRXTDQLPW432.
MLA: U.S. Supreme Court. "Syllabus." Koshland v. Helvering, 298 U.S. 441 (1936), in 298 U.S. 441, page 298 U.S. 442. Original Sources. 25 Nov. 2024. http://originalsources.com/Document.aspx?DocID=6NSNRXTDQLPW432.
Harvard: U.S. Supreme Court, 'Syllabus' in Koshland v. Helvering, 298 U.S. 441 (1936). cited in 1936, 298 U.S. 441, pp.298 U.S. 442. Original Sources, retrieved 25 November 2024, from http://originalsources.com/Document.aspx?DocID=6NSNRXTDQLPW432.
|