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Virginian Hotel Corp. v. Helvering, 319 U.S. 523 (1943)
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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.
Virginian Hotel Corp. v. Helvering, 319 U.S. 523 (1943)
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Virginian Hotel Corp. v. Helvering No. 766 Argued May 12, 13, 1942 Decided June 7, 1943 319 U.S. 523
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE FOURTH CIRCUIT
Syllabus
Under the Revenue Act of 1938, which provides that the basis on which depreciation shall be "allowed" as a deduction in computing net income is the cost of the property with proper adjustments for depreciation to the extent "allowed (but not less than the amount allowable)" under that and prior income tax laws, excessive amount claimed by the taxpayer for depreciation in his returns for earlier years were properly deducted from cost in readjusting the depreciation basis of the property in question, although, in those years, no tax benefit resulted to the taxpayer from the use of depreciation as a deduction. P. 526.
132 F.2d 909 affirmed.
Certiorari, 318 U.S. 754, to review the reversal of a ruling of the Tax Court against a deficiency assessment of income tax.
Contents:
Chicago: U.S. Supreme Court, "Syllabus," Virginian Hotel Corp. v. Helvering, 319 U.S. 523 (1943) in 319 U.S. 523 319 U.S. 524. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=KCITWJMY15P3NVJ.
MLA: U.S. Supreme Court. "Syllabus." Virginian Hotel Corp. v. Helvering, 319 U.S. 523 (1943), in 319 U.S. 523, page 319 U.S. 524. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=KCITWJMY15P3NVJ.
Harvard: U.S. Supreme Court, 'Syllabus' in Virginian Hotel Corp. v. Helvering, 319 U.S. 523 (1943). cited in 1943, 319 U.S. 523, pp.319 U.S. 524. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=KCITWJMY15P3NVJ.
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