CHANROBLES VIRTUAL LAW LIBRARY
US LAWS, STATUTES and CODES : Chan Robles Virtual Law Library USA Supreme Court Decisions | Resolutions : Chan Robles Virtual Law Library

ChanRobles™ Virtual Law Library™ | chanrobles.com™   
Main Index Repository of Laws, Statutes and Codes Latest Philippine Supreme Court Decisions Chan Robles Virtual Law Library Latest Legal Updates Philippine Legal Resources Significant Philippine Legal Resources Worldwide Legal Resources Philippine Supreme Court Decisions United States Legal Resources United States Supreme Court Jurisprudence ChanRobles LawTube - Social Network

ChanRobles Internet Bar Review : www.chanroblesbar.com DebtKollect Company, Inc. - Debt Collection Firm Intellectual Property Division - Chan Robles Law Firm

Philippine Supreme Court DecisionsChanRobles On-Line Bar Review

google search for chanrobles.comSearch for www.chanrobles.com


MCFEELY V. COMMISSIONER, 296 U. S. 102 (1935)

Subscribe to Cases that cite 296 U. S. 102 RSS feed for this section

U.S. Supreme Court

McFeely v. Commissioner, 296 U.S. 102 (1935)

McFeely v. Commissioner

No. 24

Argued October 24, 1935

Decided November 11, 1935*

296 U.S. 102

CERTIORARI TO THE CIRCUIT COURT OF APPEALS

FOR THE THIRD CIRCUIT

1. The meaning of the term "capital assets" defined in the Revenue Act of 1921, § 206(a)(6), as property "acquired and held" by the taxpayer for more than two years, was not changed by omission chanroblesvirtualawlibrary

Page 296 U. S. 103

of the word "acquired" in the corresponding sections of the Acts of 1924, 1926, and 1928; that word in the earlier Act was surplusage. P. 296 U. S. 107.

2. In common understanding, to "hold" property is to own, it, and the length of time for which property has been "held" by its owner is computed from the date when he acquired it. P. 296 U. S. 107.

3. Property acquired from a decedent through intestacy or general bequest is acquired and "held" from the date of the death, rather than from the date of distribution. Construing § 101(c)(8), Revenue Act, 1928. P. 296 U. S. 107.





Back
ChanRobles™ LawTube

google search for chanrobles.com Search for www.chanrobles.com


Supreme Court Decisions Philippine Supreme Court DecisionsUS Supreme Court Decisions



www.chanrobles.us




QUICK SEARCH

cralaw

Browse By ->> Volume


cralaw

Browse By ->> Year


cralaw

  Copyright © ChanRobles Publishing Company | Disclaimer | E-mail Restrictions
ChanRobles™ Virtual Law Library | chanrobles.com™
 
RED