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Helvering v. Horst, 311 U.S. 112 (1940)
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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. Horst, 311 U.S. 112 (1940)
Helvering v. Horst No. 27 Argued October 25, 1940 Decided November 25, 1940 311 U.S. 112
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT
Syllabus
1. Where, in 1934 and 1935, an owner of negotiable bonds, who reported income on the cash receipts basis, detached from the bonds negotiable interest coupons before their due date and delivered them as a gift to his son, who, in the same year, collected them at maturity, held that, under § 22 of the Revenue Act of 1934, and in the year that the interest payments were made, there was a realization of income, in the amount of such payments, taxable to the donor. P. 117.
2. The dominant purpose of the income tax laws is the taxation of income to those who earn or otherwise create the right to receive it and who enjoy the benefit of it when paid. P. 119.
3. The tax laid by the 1934 Revenue Act upon income "derived from . . . wages or compensation for personal service, of whatever kind and in whatever form paid . . . ; also from interest . . . " cannot fairly be interpreted as not applying to income derived from interest or compensation when he who is entitled to receive it makes use of his power to dispose of it in procuring satisfactions which he would otherwise procure only by the use of the money when received. P. 119.
4. This case distinguished from Blair v. Commissioner, 300 U.S. 5, and compared with Lucas v. Earl, 281 U.S. 111, and Burnet v. Leininger, 285 U.S. 136. Pp. 118-120.
107 F.2d 906, reversed.
Certiorari, 309 U.S. 650, to review the reversal of an order of the Board of Tax Appeals, 39 B.T.A. 757, sustaining a determination of a deficiency in income tax.
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Chicago: U.S. Supreme Court, "Syllabus," Helvering v. Horst, 311 U.S. 112 (1940) in 311 U.S. 112 311 U.S. 114. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=B31NMSZERAGKMNC.
MLA: U.S. Supreme Court. "Syllabus." Helvering v. Horst, 311 U.S. 112 (1940), in 311 U.S. 112, page 311 U.S. 114. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=B31NMSZERAGKMNC.
Harvard: U.S. Supreme Court, 'Syllabus' in Helvering v. Horst, 311 U.S. 112 (1940). cited in 1940, 311 U.S. 112, pp.311 U.S. 114. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=B31NMSZERAGKMNC.
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