Boehm v. Commissioner
United States Board of Tax Appeals
1. Irrevocable assignment of a cause of action for breach of contract and of right to any money collected under judgment in the action, which was due and payable under contract before the assignment, divests the assignor of all right, title, and interest in the cause of action and money paid under judgment subsequently.
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1. Irrevocable assignment of a cause of action for breach of contract and of right to any money collected under judgment in the action, which was due and payable under contract before the assignment, divests the assignor of all right, title, and interest in the cause of action and money paid under judgment subsequently. Held, money collected in a judgment on the action by the assignee is not taxable to the assignor. 2. Held, certain expenditures for dues and expenses in social, civic, and political clubs are not deductible as business expenses under section 23(a) of the Revenue Act of 1928…
1Opinion of the Court
LOUIS BOEHM, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Boehm v. Commissioner
Docket No. 78692.
United States Board of Tax Appeals
35 B.T.A. 1106; 1937 BTA LEXIS 797;
May 13, 1937, Promulgated
1. Irrevocable assignment of a cause of action for breach of contract and of right to any money collected under judgment in the action, which was due and payable under contract before the assignment, divests the assignor of all right, title, and interest in the cause of action and money paid under judgment subsequently. Held, money collected in a judgment on the action by the assignee is not…
2Cases cited5 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Gilbert v. . AckermanNew York Court of Appeals · 1899
- Boehm v. CommissionerUnited States Board of Tax Appeals · 1937
- Ellis v. CommissionerUnited States Board of Tax Appeals · 1929
- Leydig v. CommissionerUnited States Board of Tax Appeals · 1929