Gray v. Darlington
Supreme Court of the United States
Error to the Circuit Court for the Eastern District of Pennsylvania. An act of Congress of March 2d, 1867,* provides that “There shall be levied, collected, and paid annually upon the gains, profits, and income of every person, . . . whether derived from any kind of property, rents, interest, dividends, or salaries, or from any profession, trade, employment, or vocation, ... or from any other source whatever,... a tax of five per centum on the amount so derived over $1000. .…
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Error to the Circuit Court for the Eastern District of Pennsylvania. An act of Congress of March 2d, 1867,* provides that “There shall be levied, collected, and paid annually upon the gains, profits, and income of every person, . . . whether derived from any kind of property, rents, interest, dividends, or salaries, or from any profession, trade, employment, or vocation, ... or from any other source whatever,... a tax of five per centum on the amount so derived over $1000. . . . And the tax herein provided for shall be assessed, collected, and paid upon the gains, profits, and income for the…
1Opinion of the CourtJustice Field
In 1865 the plaintiff, being the owner of certain United States treasury notes, exchanged them for United States five-twenty bonds. In 1869 he sold these bonds at an advance of twenty thousand dollars over the cost of the treasury notes, and upon this amount the assistant assessor of the United States for the collection district in Pennsylvania, within which the plaintiff resided, assessed a tax of five per cent., alleging it to be gains, profits, and income of the plaintiff for that year. On appeal to the assessor of the district., and to the Commissioner of Internal Revenue,' this…
2Cited by51 opinions
- Willcutts v. BunnSupreme Court of the United States · 1931
- Merchants' Loan & Trust Co. v. SmietankaSupreme Court of the United States · 1921
- Tax Commissioner v. PutnamMassachusetts Supreme Judicial Court · 1917
- Lynch v. TurrishSupreme Court of the United States · 1918
- Snyder v. CommissionerSupreme Court of the United States · 1935
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