Concurrence Brandeis | End date 1926 | |
Full case name Bowers, Collector of Internal Revenue v. Kerbaugh-Empire Company Citations 271 U.S. 170 (more)
46 S. Ct. 449; 70 L. Ed. 886; 1926 U.S. LEXIS 615; 1 U.S. Tax Cas. (CCH) P174; 5 A.F.T.R. (P-H) 6014; 1926 P.H. P1865 Prior history Error to the United States District Court for the Southern District of New York Majority Butler, joined by Taft, Holmes, Van Devanter, McReynolds, Sutherland, Sanford, Stone Ruling court Supreme Court of the United States Similar Eisner v Macomber, Brushaber v Union Pacific R, Pollock v Farmers' Loan & Tr | ||
Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926)[1], was a case in which the 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.
This decision was narrowed by the court six years later in United States v. Kirby Lumber Co..
References
Bowers v. Kerbaugh-Empire Co. Wikipedia(Text) CC BY-SA