Legal Opinion
Hirsch v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided November 25, 1940No. 7383PublishedCited by 42 opinions
1Opinion of the Court
LINDLEY, District Judge.
Petitioner seeks review of a decision of the Board of Tax Appeals wherein the latter sustained the Commissioner’s determination of a deficiency in petitioner’s income tax for the year 1936 upon the theory that a voluntary reduction of mortgage indebtedness in the sum of $7,000 constituted income to petitioner.
Petitioner in 1928 purchased certain real estate for $29,000, paying $10,000 in cash and assuming a mortgage indebtedness of $19,000. Partial payments were made until, on April 5, 1936, the balance remaining due was $15,000. At that time the property had…
2Cases cited14 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- United States v. Kirby Lumber CoSupreme Court of the United States · 1931
- United States v. PhellisSupreme Court of the United States · 1921
- Bowers v. Kerbaugh-Empire Co.Supreme Court of the United States · 1926
9 more not listed; retrieve them via the Exa API.
3Cited by42 opinions
- Helvering v. American Dental Co.Supreme Court of the United States · 1943
- Putoma Corp. v. CommissionerUnited States Tax Court · 1976
- Harold Wener v. Commissioner of Internal Revenue, Molly Wener v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1957
- Montgomery v. CommissionerUnited States Tax Court · 1975
- Millar v. CommissionerUnited States Tax Court · 1977
37 more not listed; retrieve them via the Exa API.