Us Supreme Court Court January 1934 Judgments
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Helvering Vs. Falk
Court: US Supreme Court
Decided on: Jan-15-1934
Helvering v. Falk - 291 U.S. 183 (1934) U.S. Supreme Court Helvering v. Falk, 291 U.S. 183 (1934) Helvering v. Falk No. 225 Argued December 11, 1933 Decided January 15, 1934 291 U.S. 183 CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE SEVENTH CIRCUIT Syllabus 1. An iron ore mine, the estimated life of which was nine years, while subject to a fourteen-year lease providing for royalties, was conveyed to trustees to hold during two lives and twenty-one years, with power to manage, sell, lease, mortgage or otherwise dispose thereof. The deed, without setting up a reserve for depletion, directed that all proceeds (less expenses) be distributed to the beneficiaries. Large sums were collected by the trustees as royalties under the lease and distributed to the beneficiaries. Held, the beneficiaries were the owners of the entire economic interest in the mine, and, under the Revenue Acts of 1921, 1924, and 1926, were entitled to an allowance of a deduction for depletion, each in...
Williams Vs. Union Central Life Ins. Co.
Court: US Supreme Court
Decided on: Jan-15-1934
Williams v. Union Central Life Ins. Co. - 291 U.S. 170 (1934) U.S. Supreme Court Williams v. Union Central Life Ins. Co., 291 U.S. 170 (1934) Williams v. Union Central Life Ins. Co. No. 208 Argued December 14, 1933 Decided January 15, 1934 CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE FIFTH CIRCUIT Syllabus 1. A paid-up addition to a policy of life insurance is an amount added to the face of the policy, paid for by a single premium, for which there must be a legal reserve. P. 291 U. S. 173 . 2. This is the meaning of the term " dividend additions," as used in Art. 7432, Par. 7, Rev.Civ.Stats. of Texas, 1925. P. 181. 3. A paid-up addition is distinct from extended insurance. P. 291 U. S. 173 . 4. The policy provided: "In the event of the death of the insured during the days of grace, the current premium being unpaid, if no other option has been elected, or if the policy shall lapse, the dividend then due shall be paid in cash." Held applicable where the policy ...
Helvering Vs. Canfield
Court: US Supreme Court
Decided on: Jan-15-1934
Helvering v. Canfield - 291 U.S. 163 (1934) U.S. Supreme Court Helvering v. Canfield, 291 U.S. 163 (1934) Helvering v. Canfield No. 158 Argued December 13, 1933 Decided January 15, 1934 * 291 U.S. 163 CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE SEVENTH CIRCUIT Syllabus The Revenue Act of 1921, 201(a)(b), provides that any distribution made by a corporation to its shareholders out of profits accumulated since February 28, 1913, is taxable, and, for the purposes of the Act, every distribution is regarded as made from the most recently accumulated profits to the extent that they have accumulated since that date; but profits accumulated prior to March 1, 1913 may be distributed exempt from tax after profits accumulated since February 28, 1913, have been distributed. A corporation with a surplus on March 1, 1913, made a distribution after ensuing years in the earlier of which it suffered losses and in the later of which it made profits. Held that, to determine the amo...
Brown Vs. Helvering
Court: US Supreme Court
Decided on: Jan-15-1934
Brown v. Helvering - 291 U.S. 193 (1934) U.S. Supreme Court Brown v. Helvering, 291 U.S. 193 (1934) Brown v. Helvering No. 187 Argued December 13, 14, 1933 Decided January 15, 1934 291 U.S. 193 CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE NINTH DISTRICT Syllabus A general agent of fire insurance companies received "overriding commissions" on the business written each year, subject however to the contingent liability that, when any of the policies was cancelled before its term had run, a part of the commission thereon, proportionate to the premium money repaid the policyholder, must be charged against the agent in favor of the company. In his accounts and income tax returns involved in this case, he deducted from the accrued commissions of each year a sum entered in a reserve account to represent that part of them which, according to the experience of earlier years, would be returnable because of cancellations. Held: Page 291 U. S. 194 1. That the deduction were not...
Reynolds Vs. Cooper
Court: US Supreme Court
Decided on: Jan-15-1934
Reynolds v. Cooper - 291 U.S. 192 (1934) U.S. Supreme Court Reynolds v. Cooper, 291 U.S. 192 (1934) Reynolds v. Cooper No. 227 Argued December 11, 1933 Decided January 15, 1934 * 291 U.S. 192 CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE TENTH CIRCUIT Syllabus Decided upon the authority of Helvering v. Falk, ante, p. 291 U. S. 183 . 64 F.2d 44 affirmed. Writs of certiorari, 290 U.S. 616, to review judgments affirming recoveries by taxpayers in three suits against the collector, which were tried together in the District Court and on appeal. MR. JUSTICE McREYNOLDS delivered the opinion of the Court. In each of these causes, a beneficiary received from trustees royalties arising from a lease of oil and gas lands in Wyoming. Taxes were exacted upon the full amounts so received. Separate suits were brought to recover proper allowances for depletion. The respondents prevailed in both of the courts below. Here, the causes were heard together. Page 291 U. S. 193 The...
Northwestern Pacific Railroad Co. Vs. Bobo
Court: US Supreme Court
Decided on: Jan-08-1934
Northwestern Pacific Railroad Co. v. Bobo - 290 U.S. 499 (1934) U.S. Supreme Court Northwestern Pacific Railroad Co. v. Bobo, 290 U.S. 499 (1934) Northwestern Pacific Railroad Co. v. Bobo No. 163 Submitted December 12, 1933 Decided January 8, 1934 290 U.S. 499 CERTIORARI TO THE DISTRICT COURT OF APPEAL OF CALIFORNIA FIRST APPELLATE DISTRICT, DIVISION ONE Syllabus Decedent had for six months been employed by a railroad to operate the draw and work the signals of its draw-bridge over a stream. His decomposed body was found in the water two weeks from the night on which he last worked and was last seen alive, but the cause of death could not be learned by examination of the corpse. There was evidence tending to show that iron steps, on the outside of the bridge, which he was obliged to use in going to and from an engine house high above the track, and an iron platform at their base, were inadequately guarded, were worn smooth and, when moisture accumulated, were slippery, and ...
Burroughs and Cannon Vs. United States
Court: US Supreme Court
Decided on: Jan-08-1934
Burroughs & Cannon v. United States - 290 U.S. 534 (1934) U.S. Supreme Court Burroughs & Cannon v. United States, 290 U.S. 534 (1934) Burroughs & Cannon v. United States No. 434 Argued December 5, 1933 Decided January 8, 1934 290 U.S. 534 CERTIORARI TO THE COURT OF APPEALS OF THE DISTRICT OF COLUMBIA Syllabus 1. The Federal Corrupt Practices Act of February 28, 1925, provides that any political committee which accepts contributions or makes expenditures for the purpose of influencing the election of presidential or vice-presidential electors in two or more States, or (with certain exceptions), as subsidiary of a national committee, shall have a chairman and treasurer; that the treasurer, among other duties, shall keep detailed and exact accounts of all contributions made to or for the committee; that every person who receives a contribution for the committee shall render to the treasurer a detailed account thereof, with specified particulars, and that the treasurer shall fi...
Connell Vs. Walker
Court: US Supreme Court
Decided on: Jan-08-1934
Connell v. Walker - 291 U.S. 1 (1934) U.S. Supreme Court Connell v. Walker, 291 U.S. 1 (1934) Connell v. Walker No. 535 Submitted December 4, 1933 Decided January 8, 1934 291 U.S. 1 CERTIORARI TO THE SUPREME COURT OF NORTH DAKOTA Syllabus 1. Under 67(f) of the Bankruptcy Act, where an attachment of an insolvent's property was obtained within four months prior to the filing of a petition in bankruptcy against him, the trustee has the election of preserving it for the benefit of the bankrupt estate; it is not void at the election of the bankrupt alone. Lehman, Stern & Co. v. Gumbel & Co., 236 U. S. 448 ; Chicago, B. & Q. R. Co. v. Hall, 229 U. S. 511 , distinguished. P. 291 U. S. 3 . 2. A suit in a state court brought by a creditor of a bankrupt within four months prior to the filing of the bankruptcy petition, to set aside a fraudulent conveyance made by him more than four months prior to the petition, is not terminated by the mere existence of the bankruptcy procee...
Snyder Vs. Massachusetts
Court: US Supreme Court
Decided on: Jan-08-1934
Snyder v. Massachusetts - 291 U.S. 97 (1934) U.S. Supreme Court Snyder v. Massachusetts, 291 U.S. 97 (1934) Snyder v. Massachusetts No. 241 Argued November 7, 1933 Decided January 8, 1934 291 U.S. 97 CERTIORARI TO THE SUPERIOR COURT IN AND FOR THE COUNTY OF MIDDLESEX, MASSACHUSETTS Syllabus 1. So far as the Fourteenth Amendment is concerned, the presence of the defendant in a prosecution for felony is a condition of due process to the extent that a fair and just hearing would be thwarted by his absence, and to that extent only. P. 291 U. S. 105 . 2. In a state prosecution for murder, the accused was denied permission to attend a view, which was ordered by the court on motion of the prosecution, at the opening of the trial. The jurors, under a sworn bailiff, visited the scene of the crime, accompanied by the judge, the counsel for both parties and the court stenographer. The counsel, acting as showers by the permission of the judge, pointed out particular features of the ...
Freuler Vs. Helvering
Court: US Supreme Court
Decided on: Jan-08-1934
Freuler v. Helvering - 291 U.S. 35 (1934) U.S. Supreme Court Freuler v. Helvering, 291 U.S. 35 (1934) Freuler v. Helvering No. 129 Argued December 8, 1933 Decided January 8, 1934 * 291 U.S. 35 CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE NINTH CIRCUIT Syllabus 1. Under 219 of the Revenue Act of 1921, the fiduciary of a trust estate, in computing the net income for the taxable year, makes the same deductions from gross income that are allowed in cases of individual income, including deductions for depreciation; those parts of the net income which, by the instrument or order governing the distribution, are distributable during the tax year to beneficiaries are specified in the fiduciary's return, but they are income of the beneficiaries as of the time of their receipt by the fiduciary and are returnable by and taxable to the beneficiaries, whether distributed to them or not; if, by mistake, the fiduciary omits to make proper deductions for depreciation, and so oversta...
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