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


HORT V. COMMISSIONER, 313 U. S. 28 (1941)

Subscribe to Cases that cite 313 U. S. 28 RSS feed for this section

U.S. Supreme Court

Hort v. Commissioner, 313 U.S. 28 (1941)

Hort v. Commissioner

No. 517

Argued March 7, 1941

Decided March 31, 1941

313 U.S. 28

Syllabus

1. An amount received by a lessor in consideration of the cancellation of a lease of real estate is income taxable to him under § 22(a) of the Revenue Act of 1932, and must be reported as gross income in its entirety. P. 313 U. S. 30.

2. Although the amount so received be less than the difference between the present value of the unmatured rental payments and the fair rental value of the property for the unexpired period of the lease, there is no loss deductible under § 23(e) of the Act. P. 313 U. S. 32.

3. Even though the lease be regarded as "property," the consideration received for its cancellation is not, for the purposes of the Revenue Act of 1932, a return of capital. P. 313 U. S. 31.

112 F.2d 167 affirmed.

Certiorari, 311 U.S. 641, to review the affirmance of a decision of the Board of Tax Appeals, 39 B.T.A. 922, sustaining the determination of a deficiency in income tax.





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