Union Trust Co. v. Commissioner of Internal Revenue

CLARK, Circuit Judge.

Appellant’s actual complaint is against a confusion of definition. The tax collector, the economists, the Congress, and the United States Supreme Court have not been altogether in accord on the tax meaning of “income”. The bewilderment has been augmented by a constitutional and practical necessity of ■ interpreting each other’s theories. Our category and therefore obligation is simpler. We need consider only the opinions of our highest court.

To the tax collector, all receipts are income.1 An exception to even his enthusiasm used to but no longer prevails. It is amusingly…