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Hartley v. Commissioner, 295 U.S. 216 (1935)
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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.
Hartley v. Commissioner, 295 U.S. 216 (1935)
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Hartley v. Commissioner of Internal Revenue No. 602 Argued April 11, 12, 1935 Decided April 29, 1935 295 U.S. 216
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE EIGHTH CIRCUIT
Syllabus
1. Under the Revenue Acts of 1921 and 1924, the basis for computing gain or loss on the sale of property of an estate, and its depletion or depreciation, for the purposes of taxing income returnable by an executor, is its value at the decedent’s death, rather than its cost to the decedent or its value on March 1, 1913, if acquired before that date. Pp. 217-218.
2. The reenactment, without material change, of the pertinent provisions of § 202 of the Revenue Act of 1921 was a congressional recognition and approval of the interpretation of the section by the treasury regulations, which gave them the force of law. P. 220.
3. The incorporation into § 113(a)(5), Revenue Act of 1928, of the substance of the Treasury Regulation prescribing that gains or losses of an estate should be computed on the basis of the value of the property at the date of the decedent’s death, was intended to clarify the law, not to change it. Id.
72 F.2d 352 affirmed.
Certiorari, 294 U.S. 700, to review the affirmance of a decision of the Board of Tax Appeals, 27 B.T.A. 952, sustaining a determination of income taxes by the Commissioner of Internal Revenue.
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Chicago: U.S. Supreme Court, "Syllabus," Hartley v. Commissioner, 295 U.S. 216 (1935) in 295 U.S. 216 295 U.S. 217. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=KGMYSMXVBK8WJ4G.
MLA: U.S. Supreme Court. "Syllabus." Hartley v. Commissioner, 295 U.S. 216 (1935), in 295 U.S. 216, page 295 U.S. 217. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=KGMYSMXVBK8WJ4G.
Harvard: U.S. Supreme Court, 'Syllabus' in Hartley v. Commissioner, 295 U.S. 216 (1935). cited in 1935, 295 U.S. 216, pp.295 U.S. 217. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=KGMYSMXVBK8WJ4G.
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