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Helvering v. O’donnell, 303 U.S. 370 (1938)
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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. O’donnell, 303 U.S. 370 (1938)
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Helvering v. O’Donnell No. 406 Argued February 9, 10, 1938 Decided March 7, 1938 303 U.S. 370
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE NINTH CIRCUIT
Syllabus
A shareholder in a corporation owning oil properties has no interest in the oil and gas in place -- no capital investment -- which will entitle him to an allowance for depletion under Revenue Act of 1926, §§ 204(c)(2), 214(a)(9), nor, upon sale of his shares to one who acquires the wells from the corporation, does he acquire such depletable interest through the vendee’s covenant to pay him a portion of the net profits from development and operation of the properties. P. ___.
90 F.2d 907, reversed.
Certiorari, 302 U.S. 676, to review the affirmance of a decision of the Board of Tax Appeals, 32 B.T.A. 1277, which overruled a deficiency income tax assessment.
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Chicago: U.S. Supreme Court, "Syllabus," Helvering v. O’donnell, 303 U.S. 370 (1938) in 303 U.S. 370 303 U.S. 371. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=FFIGNZT1B758H22.
MLA: U.S. Supreme Court. "Syllabus." Helvering v. O’donnell, 303 U.S. 370 (1938), in 303 U.S. 370, page 303 U.S. 371. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=FFIGNZT1B758H22.
Harvard: U.S. Supreme Court, 'Syllabus' in Helvering v. O’donnell, 303 U.S. 370 (1938). cited in 1938, 303 U.S. 370, pp.303 U.S. 371. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=FFIGNZT1B758H22.
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