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Helvering v. Janney, 311 U.S. 189 (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. Janney, 311 U.S. 189 (1940)
Helvering v. Janney No. 36 Argued November 18, 1940 Decided December 9, 1940 * 311 U.S. 189
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE THIRD CIRCUIT
Syllabus
1. Under § 51(b) of the Revenue Act of 1934, when a joint return is made by husband and wife, the tax is computed on their aggregate net income, and capital losses of one spouse may be deducted from capital gains of the other. P. 194.
2. Section 117(d) of this Act did not purport to alter the rule as to the right of the spouses to deductions in their joint return, but merely limited the amount of capital losses which could be deducted. P. 194.
3. Treasury Regulations 86, Art. 117-5, in undertaking to provide that
the allowance of losses of one spouse from sales or exchanges of capital assets is in all cases to be computed without regard to gains and losses of the other spouse upon sales or exchanges of capital assets,
is inconsistent with the Act, and therefore ineffective. P. 194.
108 F.2d 564 affirmed; 111 id. 144 reversed.
Certiorari, 310 U.S. 617, to review judgments of Circuit Courts of Appeals which dealt with rulings of the Board of Tax Appeals. In No. 36, a decision of the Board, 39 B.T.A. 240, sustaining a deficiency assessment was reversed by the court below, whose judgment is affirmed here. In No. 113, a like ruling of the Board was affirmed by a judgment of the Second Circuit which this Court reverses.
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Chicago: U.S. Supreme Court, "Syllabus," Helvering v. Janney, 311 U.S. 189 (1940) in 311 U.S. 189 311 U.S. 190. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=FDBZLM8NHWLKVW3.
MLA: U.S. Supreme Court. "Syllabus." Helvering v. Janney, 311 U.S. 189 (1940), in 311 U.S. 189, page 311 U.S. 190. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=FDBZLM8NHWLKVW3.
Harvard: U.S. Supreme Court, 'Syllabus' in Helvering v. Janney, 311 U.S. 189 (1940). cited in 1940, 311 U.S. 189, pp.311 U.S. 190. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=FDBZLM8NHWLKVW3.
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