Legal Opinion
Newman, Saunders & Co. v. United States
United States Court of Claims
Decided December 23, 1929No. J-194PublishedCited by 10 opinions
1Opinion of the Court
GREEN, Judge.
The plaintiff in 'tMs ease seeks to recover $13,846.54, being the amount of income tax collected from it in the year 1928, under section 204 (a) (8) of the Revenue Act of 1924 (26 USCA § 935 (a) (8). The issue in the case is whether tMs provision of the Revenue Act is constitutional.
The facts in the ease are not in dispute. It appears that plaintiff was incorporated on July 1, 1922, and thereafter was engaged in business as a stock and bond broker and dealer in investment securities. On said date, plaintiff acquired, solely in exchange for its capital stock, certain securities…
2Cases cited3 opinions
- United States v. PhellisSupreme Court of the United States · 1921
- Irwin v. GavitSupreme Court of the United States · 1925
- Taft v. BowersSupreme Court of the United States · 1929
3Cited by10 opinions
- Osburn California Corporation v. WelchCourt of Appeals for the Ninth Circuit · 1930
- TW Phillips, Jr., Inc. v. Commissioner of Int. Rev.Court of Appeals for the Third Circuit · 1933
- Faris v. HelveringCourt of Appeals for the Ninth Circuit · 1934
- Snead v. Jackson Securities & Investment Co.Court of Appeals for the Fifth Circuit · 1935
- Perthur Holding Corp. v. Commissioner of Int. Rev.Court of Appeals for the Second Circuit · 1932
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