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Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926)
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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.
Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926)
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Bowers v. Kerbaugh-Empire Company No. 173 Argued January 25, 1926 Decided May 3, 1926 271 U.S. 170
ERROR TO THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF NEW YORK
Syllabus
Plaintiff borrowed money from a bank in Germany before the War, repayable in marks or their equivalent in gold coin of the United States, lost the borrowed money in business, and repaid the loan to the Alien Property Custodian in 1921, when marks had greatly depreciated, the amount of the depreciation, however, being less than the losses sustained on the entire transaction. Held that the difference, resulting from the depreciation, between the amount borrowed and the amount repaid, in American money, was not taxable as " income." P. 173.
300 F. 938 affirmed.
Error to a judgment of the district court recovered by the company from the Collector in an action for money paid under protest as income tax.
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Chicago: U.S. Supreme Court, "Syllabus," Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926) in 271 U.S. 170 271 U.S. 171. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=LXE6MLCYU5WGFX2.
MLA: U.S. Supreme Court. "Syllabus." Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926), in 271 U.S. 170, page 271 U.S. 171. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=LXE6MLCYU5WGFX2.
Harvard: U.S. Supreme Court, 'Syllabus' in Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926). cited in 1926, 271 U.S. 170, pp.271 U.S. 171. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=LXE6MLCYU5WGFX2.
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