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Hays v. Gauley Mountain Coal Co., 247 U.S. 189 (1918)
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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.
Hays v. Gauley Mountain Coal Co., 247 U.S. 189 (1918)
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Hays v. Gauley Mountain Coal Company No. 327 Argued March 4, 5, 6, 1918 Decided May 20, 1918 247 U.S. 189
CERTIORARI TO THE CIRCUIT COURT
OF APPEALS FOR THE FOURTH CIRCUIT
Syllabus
The Corporation Tax Act of August 5, 1909, c. 6, 36 Stat. 11, 112, § 38, measures the tax by income received during the tax year without reference to when it accrued, provided it accrued after the act became effective. Gray v. Darlington, 15 Wall. 63, distinguished.
A coal company bought shares of another coal company before, and sold them at an advance after, the Corporation Tax Act became effective. Held: (1) that interest should not be added to the investment as a part of the cost; (2) that so much, and only so much, of the advance as could be deemed to have accrued since December 31, 1908, was part of the company’s "gross income" within the act. Dole v. Mitchell Brothers Co., ante,179.
230 F. 110, reversed.
The case is stated in the opinion.
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Chicago: U.S. Supreme Court, "Syllabus," Hays v. Gauley Mountain Coal Co., 247 U.S. 189 (1918) in 247 U.S. 189 247 U.S. 190. Original Sources, accessed November 24, 2024, http://originalsources.com/Document.aspx?DocID=FNR1A74B35RQIHL.
MLA: U.S. Supreme Court. "Syllabus." Hays v. Gauley Mountain Coal Co., 247 U.S. 189 (1918), in 247 U.S. 189, page 247 U.S. 190. Original Sources. 24 Nov. 2024. http://originalsources.com/Document.aspx?DocID=FNR1A74B35RQIHL.
Harvard: U.S. Supreme Court, 'Syllabus' in Hays v. Gauley Mountain Coal Co., 247 U.S. 189 (1918). cited in 1918, 247 U.S. 189, pp.247 U.S. 190. Original Sources, retrieved 24 November 2024, from http://originalsources.com/Document.aspx?DocID=FNR1A74B35RQIHL.
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