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Commissioner v. Smith, 324 U.S. 695 (1945)
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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.
Commissioner v. Smith, 324 U.S. 695 (1945)
Commissioner of Internal Revenue v. Smith No. 371 Decided April 9, 1945 324 U.S. 695
ON PETITION FOR REHEARING
Syllabus
The conclusion of the Tax Court upon the facts of this case that the option to purchase stock was effectively exercised and taxable compensation was received, not when the optionee made his election and paid the option price, but when the shares were delivered to him, is supported by the record. P. 696.
Rehearing denied.
On petition for rehearing of Commissioner v. Smith, 324 U.S. 177.
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Chicago:
U.S. Supreme Court, "Syllabus," Commissioner v. Smith, 324 U.S. 695 (1945) in 324 U.S. 695 Original Sources, accessed July 1, 2025, http://www.originalsources.com/Document.aspx?DocID=AGNZ6C2XQENR9A9.
MLA:
U.S. Supreme Court. "Syllabus." Commissioner v. Smith, 324 U.S. 695 (1945), in 324 U.S. 695, Original Sources. 1 Jul. 2025. http://www.originalsources.com/Document.aspx?DocID=AGNZ6C2XQENR9A9.
Harvard:
U.S. Supreme Court, 'Syllabus' in Commissioner v. Smith, 324 U.S. 695 (1945). cited in 1945, 324 U.S. 695. Original Sources, retrieved 1 July 2025, from http://www.originalsources.com/Document.aspx?DocID=AGNZ6C2XQENR9A9.
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