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Cooper v. United States, 280 U.S. 409 (1930)
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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.
Cooper v. United States, 280 U.S. 409 (1930)
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Cooper v. United States No. 93 Argued January 15, 1930 Decided February 24, 1930 280 U.S. 409
CERTIORARI TO THE COURT OF CLAIMS
Syllabus
The Revenue Act of November 23, 1921, effective from the beginning of that calendar year, provides, § 202(a)(2), that, in ascertaining the gain from a sale of property acquired after February 28, 1913, the basis shall be the cost, and that, in case of property acquired by gift after December 31, 1920, "the basis shall be the same as that which it would have in the hands of the donor or the last preceding owner by whom it was not acquired by gift." In November, 1921, A gave to B shares which A had bought in 1918 and which had increased in value. B sold them at that increased value within a week, and was taxed on the basis of the difference between the price paid by A and the price received by B.
Held:
1. The statute intends to reach the transaction retroactively. P. 411.
2. As so applied, it is not invalid under the due process clause of the Fifth Amendment. Id.
Affirmed.
Certiorari, post, p. 537, to review a judgment of the Court of Claims rejecting a claim for recovery of money exacted as an income tax.
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Chicago: U.S. Supreme Court, "Syllabus," Cooper v. United States, 280 U.S. 409 (1930) in 280 U.S. 409 280 U.S. 410. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=IIWPTW3HUPLWC2S.
MLA: U.S. Supreme Court. "Syllabus." Cooper v. United States, 280 U.S. 409 (1930), in 280 U.S. 409, page 280 U.S. 410. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=IIWPTW3HUPLWC2S.
Harvard: U.S. Supreme Court, 'Syllabus' in Cooper v. United States, 280 U.S. 409 (1930). cited in 1930, 280 U.S. 409, pp.280 U.S. 410. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=IIWPTW3HUPLWC2S.
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