Bowers v. Kerbaugh-Empire Company
|Bowers v. Kerbaugh-Empire Company by
|United States Supreme Court held that no taxable income arose from the repayment in German marks of loans that had originally been made in U.S. dollars, despite the fact that the marks had gone down in value relative to the dollar since the loan had been made. — Excerpted from Bowers v. Kerbaugh-Empire Co. on Wikipedia, the free encyclopedia.Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926), was a case in which the|
United States Supreme Court
BOWERS v. KERBAUGH-EMPIRE COMPANY
Argued: Jan. 25, 1926. --- Decided: May 3, 1926
Mr. Attorney General and Mrs. Assistant Attorney General Willebrandt, for plaintiff in error.
Mr. Franklin Nevius, of New York City, for defendant in error.
Mr. Justice BUTLER delivered the opinion of the Court.