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Hort v. Commissioner, 313 U.S. 28 (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.
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
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT
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. 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. 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. 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.
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Chicago:
U.S. Supreme Court, "Syllabus," Hort v. Commissioner, 313 U.S. 28 (1941) in 313 U.S. 28 Original Sources, accessed August 30, 2025, http://www.originalsources.com/Document.aspx?DocID=X3H6YHCRRUPGJ7G.
MLA:
U.S. Supreme Court. "Syllabus." Hort v. Commissioner, 313 U.S. 28 (1941), in 313 U.S. 28, Original Sources. 30 Aug. 2025. http://www.originalsources.com/Document.aspx?DocID=X3H6YHCRRUPGJ7G.
Harvard:
U.S. Supreme Court, 'Syllabus' in Hort v. Commissioner, 313 U.S. 28 (1941). cited in 1941, 313 U.S. 28. Original Sources, retrieved 30 August 2025, from http://www.originalsources.com/Document.aspx?DocID=X3H6YHCRRUPGJ7G.
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