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Powers v. Commissioner, 312 U.S. 259 (1941)
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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.
Powers v. Commissioner, 312 U.S. 259 (1941)
Powers v. Commissioner No. 486 Argued January 7, 1941 Decided February 3, 1941 312 U.S. 259
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE FIRST CIRCUIT
Syllabus
Determination of the criterion of "value" for the purposes of the gift tax under the Revenue Act of 1932 is a question of law, and a decision of the Board of Tax Appeals that, in the case of single premium policies of life insurance, irrevocably assigned as gifts shortly after issuance, the value of the gifts was the cash surrender value of the policies, was properly reversed by the Circuit Court of Appeals as "not in accordance with law." Guggenheim v. Rasquin, ante, p. 254. P. 260.
115 F.2d 209 affirmed.
Certiorari, 311 U.S. 640, to review the reversal of a decision of the Board of Tax Appeals setting aside a determination of a deficiency in a gift tax.
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Chicago:
U.S. Supreme Court, "Syllabus," Powers v. Commissioner, 312 U.S. 259 (1941) in 312 U.S. 259 Original Sources, accessed August 30, 2025, http://www.originalsources.com/Document.aspx?DocID=S6FZ2NHI3DJSI8N.
MLA:
U.S. Supreme Court. "Syllabus." Powers v. Commissioner, 312 U.S. 259 (1941), in 312 U.S. 259, Original Sources. 30 Aug. 2025. http://www.originalsources.com/Document.aspx?DocID=S6FZ2NHI3DJSI8N.
Harvard:
U.S. Supreme Court, 'Syllabus' in Powers v. Commissioner, 312 U.S. 259 (1941). cited in 1941, 312 U.S. 259. Original Sources, retrieved 30 August 2025, from http://www.originalsources.com/Document.aspx?DocID=S6FZ2NHI3DJSI8N.
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