Niles Bement Pond Co. v. United States, 281 U.S. 357 (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.
Niles Bement Pond Co. v. United States, 281 U.S. 357 (1930)
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Niles Bement Pond Co. v. United States No. 314 Argued March 7, 12, 1930 Decided April 14, 1930 281 U.S. 357
CERTIORARI TO THE COURT OF CLAIMS
Syllabus
1. Findings by the Court of Claims that the controlling plan of a taxpayer’s accounts was to show income upon an accrual basis and that its tax returns were on that basis are conclusive on review. P. 360.
2.Under the Revenue Acts of 1916 and 1918, the Commissioner may correct a return so as to reflect true income by conforming to the dominating and controlling character of the taxpayer’s system of accounts. Id.
3. In computing the net income of a domestic corporation keeping its books on the accrual basis, foreign taxes paid in the tax years should not be deducted if they accrued in prior years and their deduction in those years was necessary to ascertain true income. Id.
4. It is to be presumed that taxes paid are rightly collected upon assessments correctly made by the Commissioner, and, in a suit to recover them, the burden rests upon the taxpayer to prove all the facts necessary to establish the illegality of the collection. P. 361.
7 Ct.Cls. 693 affirmed.
Certiorari, 280 U.S. 543, to review a judgment for the United States in a suit to recover money alleged to have been illegally collected as income and excess profits taxes.
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Chicago: U.S. Supreme Court, "Syllabus," Niles Bement Pond Co. v. United States, 281 U.S. 357 (1930) in 281 U.S. 357 281 U.S. 358. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=PSCZDAVXW5TUHTZ.
MLA: U.S. Supreme Court. "Syllabus." Niles Bement Pond Co. v. United States, 281 U.S. 357 (1930), in 281 U.S. 357, page 281 U.S. 358. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=PSCZDAVXW5TUHTZ.
Harvard: U.S. Supreme Court, 'Syllabus' in Niles Bement Pond Co. v. United States, 281 U.S. 357 (1930). cited in 1930, 281 U.S. 357, pp.281 U.S. 358. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=PSCZDAVXW5TUHTZ.
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