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Handy & Harman v. Burnet, 284 U.S. 136 (1931)
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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.
Handy & Harman v. Burnet, 284 U.S. 136 (1931)
Handy & Harman v. Burnet No. 14 Argue October 19, 1931 Decided November 23, 1931 284 U.S. 136
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT
Syllabus
Section 240 of the Revenue Act of 1918 provides that "affiliated" corporations shall make a consolidated return of net income and invested capital, and domestic corporations shall be deemed affiliated if substantially all their stock "is owned or controlled by the same interests."
Held:
1. That the purpose was to require taxes to be levied according to the true net income and invested capital resulting from and employed in a single business enterprise, even though it were conducted by means of more than one corporation, and to secure substantial equality as between shareholders who ultimately bear the burden. P. 140.
2. Such returns will not make against inequality or evasion unless the same interests are the beneficial owners in like proportions of substantially all of the stock of each of such corporations; an indefinite and uncertain control of stock, without title, beneficial ownership, or legal means to enforce it, but resting solely on acquiescence, the exigencies of business, or other considerations having no binding force, is not sufficient. P. 141.
47 F.2d 184 affirmed.
Certiorari, 283 U.S. 813, to review a judgment affirming a decision of the Board of Tax Appeals. 17 B.T.A. 980.
Contents:
Chicago: U.S. Supreme Court, "Syllabus," Handy & Harman v. Burnet, 284 U.S. 136 (1931) in 284 U.S. 136 284 U.S. 137. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=XU6JH658F4U8I8B.
MLA: U.S. Supreme Court. "Syllabus." Handy & Harman v. Burnet, 284 U.S. 136 (1931), in 284 U.S. 136, page 284 U.S. 137. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=XU6JH658F4U8I8B.
Harvard: U.S. Supreme Court, 'Syllabus' in Handy & Harman v. Burnet, 284 U.S. 136 (1931). cited in 1931, 284 U.S. 136, pp.284 U.S. 137. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=XU6JH658F4U8I8B.
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