New York Life Ins. v. Anderson
Court of Appeals for the Second Circuit
In Error to the District Court of the United States for the Southern District of New York. Action by the New York Life Insurance Company against Charles W. Anderson, Collector of Internal Revenue. From the judgment, both parties bring error.
1Opinion of the Court
HOUGH, Circuit Judge (after stating the facts as above).
We are reminded that the tax in question is not “in any proper sense an income tax,” but is an excise on plaintiffs conduct of business in a corporate capacity. Anderson v. Forty-Two Broadway Co., 239 U. S. at page 72, 36 Sup. Ct. 17, 60 L. Ed. 152. This truth does not affect the present litigation, for we are concerned, in respect of the major proposition argued, not with what income is, but what shall be, deducted from an admitted gross income.
[1] The major issue here is the permissibility of deducting losses in value of the securities…
2Cases cited21 opinions
- Slocum v. New York Life InsuranceSupreme Court of the United States · 1913
- Von Baumbach v. Sargent Land Co.Supreme Court of the United States · 1917
- Cary v. CurtisSupreme Court of the United States · 1845
- Crocker v. MalleySupreme Court of the United States · 1919
- Equitable Life Assurance Society of the United States v. BrownSupreme Court of the United States · 1909
16 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Hecht v. MalleySupreme Court of the United States · 1924
- Hecht v. MalleySupreme Court of the United States · 1924
- Duffin v. LucasCourt of Appeals for the Sixth Circuit · 1932
- Even Realty Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Ralston Purina Co. v. United StatesUnited States Court of Claims · 1932
24 more not listed; retrieve them via the Exa API.