First Chrold Corporation v. Commissioner of Internal Revenue/Opinion of the Court

by Owen J. Roberts

United States Supreme Court

306 U.S. 117

First Chrold Corporation  v.  Commissioner of Internal Revenue

 Argued: and Submitted Jan. 6, 1939. ---

This case presents the same question as that involved in No. 328, Helvering v. Reynolds Tobacco Co., 306 U.S. 110, 59 S.Ct. 423, 83 L.Ed. --, decided this day. Certiorari was granted because of a conflict in the decisions below. 305 U.S. 589, 59 S.Ct. 146, 83 L.Ed. --. The statutory provision under which this case arises is Section 22(a) of the Revenue Act of 1932, 26 U.S.C.A. § 22(a), which is the same as the corresponding section of the Revenue Act of 1928, 26 U.S.C.A. § 22(a). The regulations, original and amended, have the same relation to this controversy as to that in No. 328. The Board of Tax Appeals sustained a determination of a deficiency in the petitioner's tax for the calendar year 1933 and the Circuit Court of Appeals affirmed the Board's ruling. ^[1]

For the reasons given in No. 328 the judgment must be

Reversed.

Notes

1. 8 Cir., 97 F.2d 22.