Rice v. Eisner
Court of Appeals for the Second Circuit
The cause was tried to a jury, and the court held that she was taxable, upon the theory adopted by the taxing officers, but that the jury must decide what was the value of the shares at the time of the gift.
Read the full summary
The cause was tried to a jury, and the court held that she was taxable, upon the theory adopted by the taxing officers, but that the jury must decide what was the value of the shares at the time of the gift. Evidence upon this issue was submitted by both sides, and the jury by special verdict found the value of the common shares to have been $24, and of the preferred $43.50. The court thereupon directed a verdict for the plaintiff in the amount found due her; the taxing officers having found the value of the shares at a lesser amount. The plaintiff, being unsatisfied, sued out the writ at…
1Opinion of the CourtHand, Circuit Judge
(after stating the facts as above). On the main point we have no question that the learned District Judge was right. The first paragraph of subdivision B of section 2 of the Act of October 3, 1913 (38 Stat. 167), provides that the income taxable “shall include gains, profits, and income derived from “ * ** sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in real or personal property, * * * or gains or profits and'income derived from any source whatever, including the income from but not the value of property acquired by gift,…
2Cases cited9 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Merchants' Loan & Trust Co. v. SmietankaSupreme Court of the United States · 1921
- United States v. MitchellSupreme Court of the United States · 1926
- Lynch v. TurrishSupreme Court of the United States · 1918
- Cliquot's ChampagneSupreme Court of the United States · 1866
4 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Helvering v. Safe Deposit & Trust Co. of BaltimoreCourt of Appeals for the Fourth Circuit · 1938
- Fistel v. ChristmanDistrict Court, S.D. New York · 1955
- United States v. SteinbergCourt of Appeals for the Second Circuit · 1938
- Commissioner of Internal Revenue v. RobertsonCourt of Appeals for the Sixth Circuit · 1935
- State Department of Revenue v. McLemoreCourt of Civil Appeals of Alabama · 1988
10 more not listed; retrieve them via the Exa API.