United States v. Kirby Lumber Company
|United States v. Kirby Lumber Company by
|United States Supreme Court held that when a corporation settles its debts for less than the face amount, a taxable gain has occurred. — Excerpted from United States v. Kirby Lumber Co. on Wikipedia, the free encyclopedia.United States v. Kirby Lumber Co., 284 U.S. 1 (1931), was a case in which the|
United States Supreme Court
UNITED STATES v. KIRBY LUMBER COMPANY
Argued: Oct. 21, 1931. --- Decided: Nov 2, 1931
The Attorney General and Mr. Charles B. Rugg, Asst. Atty. Gen., for the United States.
Mr. Robert Ash, of Washington, D. C., for respondent.
Mr. Justice HOLMES delivered the opinion of the court.