First Chrold Corp. Vs. Commissioner

first chrold corp. v. commissioner - 306 u.s. 117 (1939) u.s. supreme court first chrold corp. v. commissioner, 306 u.s. 117 (1939) first chrold corp. v. commissioner no. 35 argued january 6, 1939 decided january 30, 1939 306 u.s. 117 certiorari to the circuit court of appeals for the third circuit syllabus decided on the authority of helvering v. r. j. reynolds tobacco co., ante, p. 306 u. s. 110 . 97 f.2d 22 reversed. certiorari, 305 u.s. 589, to review the affirmance of a decision of the board of tax appeals sustaining a determination of deficiency in income tax. page 306 u. s. 118 mr. justice roberts delivered the opinion of the court. this case presents the same question as that involved in no. 328, helvering v. reynolds tobacco co., ante, p. 306 u. s. 110 . certiorari was granted because of a conflict in the decisions below. 305 u.s. 589. the statutory provision under which this case arises is § 22(a) of the revenue act of 1932, which is the same as the corresponding section of the revenue act of 1928. 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. * for the reasons given in no. 328, the judgment must be reversed. * 97 f.2d 22.