Legal Opinion
Burnet v. Houston
Supreme Court of the United States
Decided April 13, 1931No. 199PublishedCited by 439 opinions
1Opinion of the CourtJustice Suthekland
The question in this case arises under § 214 (a) of the Revenue Act of 1918, c. 18, 40 Stat. 1057, 1066, 1067, the pertinent part of which is as follows:
“Sec. 214 (a). That in computing net income there shall be allowed as deductions:
“(5) Losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in any transaction entered into for profit, . . .”
The respondent, in making his tax return for 1920, claimed a loss incurred in a transaction entered into in the year 1906, by which he acquired certain rights of the character, and in the manner, hereafter…
2Cases cited8 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- United States v. FlannerySupreme Court of the United States · 1925
- Heiner v. TindleSupreme Court of the United States · 1928
- Newell v. . NicholsNew York Court of Appeals · 1878
- Samet v. Farmers' & Merchants' Nat. Bank of BaltimoreCourt of Appeals for the Fourth Circuit · 1917
3 more not listed; retrieve them via the Exa API.
3Cited by439 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Boehm v. CommissionerSupreme Court of the United States · 1945
- Roberts v. CommissionerUnited States Tax Court · 1974
- Halle v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1949
- Duplan Corporation v. Deering Milliken, Inc.District Court, D. South Carolina · 1974
434 more not listed; retrieve them via the Exa API.