Legal Opinion
Eder v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided July 1, 1943No. 244, 245, 246PublishedCited by 39 opinions
1Opinion of the Court
FRANK, Circuit Judge.
We agree with the taxpayers that the Commissioner and the Tax Court were in error in adopting as the value of “blocked” pesos the current rate of exchange for “free” pesos. It does not follow, however, that the taxpayers must win. The evidence does not make it clear whether or not owners of “blocked” pesos could have sold them for dollars to citizens of this country wishing to invest or spend the pesos in Colombia. But even if we assume that such a transaction was not lawfully possible under the laws of Colombia, or that there would have been an obligation to return to…
2Cases cited10 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- Helvering v. National Grocery Co.Supreme Court of the United States · 1938
- Burnet v. LeiningerSupreme Court of the United States · 1932
- Helvering v. Northwest Steel Rolling Mills, Inc.Supreme Court of the United States · 1940
- Helvering v. BruunSupreme Court of the United States · 1940
5 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- Durovic v. CommissionerUnited States Tax Court · 1970
- Marko Durovic v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1973
- Marsman v. CommissionerUnited States Tax Court · 1952
- Dow Chemical Co. v. Commissioner of RevenueMassachusetts Supreme Judicial Court · 1979
- Garlock, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1973
34 more not listed; retrieve them via the Exa API.