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Great Western Power Co. v. Commissioner, 297 U.S. 543 (1936)
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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.
Great Western Power Co. v. Commissioner, 297 U.S. 543 (1936)
Great Western Power Company of California v. Commissioner of Internal Revenue No. 525 Argued March 5, 1936 Decided March 16, 1936 297 U.S. 543
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT
Syllabus
Under § 234(a), Revenue Act of 1924, and Treasury Regulations 65, Art. 545, § 3, where bonds of a corporation, sold at a discount, are retired by exchanging for them bond of another issue and paying a premium, the unamortized discount and expense of issuance allocable to the retired bonds, and the premium paid and expense incurred in the exchange, are part of the cost of obtaining the loan and, for the purpose of deduction in income accounting, should be amortized over the term of the bonds delivered in the exchange. P. 546.
79 F.2d 94 affirmed.
Certiorari, 296 U.S. 568, to review a judgment reversing a decision of the Board of Tax Appeals, 30 B.T.A. .503, which overruled the Commissioner of Internal Revenue in respect of the disallowance of deductions in the Power Company’s income tax return.
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Chicago: U.S. Supreme Court, "Syllabus," Great Western Power Co. v. Commissioner, 297 U.S. 543 (1936) in 297 U.S. 543 Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=VEJP9GB54TBB4MV.
MLA: U.S. Supreme Court. "Syllabus." Great Western Power Co. v. Commissioner, 297 U.S. 543 (1936), in 297 U.S. 543, Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=VEJP9GB54TBB4MV.
Harvard: U.S. Supreme Court, 'Syllabus' in Great Western Power Co. v. Commissioner, 297 U.S. 543 (1936). cited in 1936, 297 U.S. 543. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=VEJP9GB54TBB4MV.
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