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" Income may be defined as a gain derived from capital, from labor, or from both combined,' provided it be understood to include profit gained through sale or conversion of capital assets. "
Proposals Relating to Excise Taxes: Hearing Before the Committee on Finance ... - Page 811
by United States. Congress. Senate. Committee on Finance - 1986 - 880 pages
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Cases Argued and Adjudged in the Supreme Court of the United States, Volume 255

United States. Supreme Court - Law reports, digests, etc - 1921 - 684 pages
...determining the amount of such gain derived." Ard the definition of "income" approved by this court is: '"The gain derived from capital, from labor, or from...understood to include profit gained through a sale or con version of capital assets." Eisner v. Macomber, 252 US 189, 207. It is thus very plain that the...
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The Federal Income Tax

Thomas Sewall Adams - Income tax - 1921 - 296 pages
...two cases arising under the Corporation Tax Act of August 5, 1909 . . . : "Income may be defined as the gain derived from capital, from labor, or from...it be understood to include profit gained through a conversion of capital assets, to which it was applied in the Doyle Case.1" And later in the same opinion...
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Supreme Court Reporter, Volume 40

United States. Supreme Court - Law reports, digests, etc - 1921 - 628 pages
...L. Ed. 1054]), "Income 40 Sop.Or.— 13 (40 Sup.Ct.) may be defined as the gain derived from captal, from labor, or from both combined," provided It be...Include profit gained through a sale or conversion of caplal assets, to which it was applied in the Doyle Case, 247 US 183, 185, 38 Sup. Ct 467, 469 (62...
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Journal of Accountancy, Volume 31

Accounting - 1921 - 498 pages
...determining the amount of such gam derived." And the definition of "income" approved by this court is: "A gain derived from capital, from labor, or from both combined, provided it be understood to include profits gained through sale or conversion of capital assets." Eisner v. Macomber, 252 US 189, 207....
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Cumulative Bulletin ... Income Tax Rulings, Issues 4-5

United States. Bureau of Internal Revenue - Income tax - 1921 - 772 pages
...the amount of such (tain derived." And the definition of "income" approved by this court is: "A (lain derived from capital, from labor, or from both combined, provided It be understood to include profits gained through sale or conversion of capital assets." Eisner \. Uacombcr, 252 US 189, 207....
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State Taxation of Personal Incomes

Alzada Comstock - Business & Economics - 1921 - 258 pages
...Sixteenth Amendment. The definition of income adopted by the court, namely " income may be defined as the gain derived from capital, from labor or from both combined, provided it would be understood to include profit gained through the sale or conversion o'f assets " was interpreted...
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Cumulative Bulletin ... Income Tax Rulings, Volume 2

United States. Bureau of Internal Revenue - Income tax - 1921 - 778 pages
...determining the amount of such gii in derived." And the definition of " income" approved by this court is: "A gain derived from capital, from labor, or from both combined, provided it he understood to include profits gained through sale or conversion of capital assets." F.ixner v. Mncomlxr....
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Supreme Court Reporter, Volume 41

United States. Supreme Court - Law reports, digests, etc - 1922 - 668 pages
...determining the amount of such gain derived." And the definition of "income" approved by this Court is: " The gain derived from capital, from labor, or from...both combined,' provided it be understood to include profits gamed through sale or conversion of capital assets." Eisner v. Macomber, 252 US 189, 207, 40...
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The American Political Science Review, Volume 16

Westel Woodbury Willoughby, John Archibald Fairlie, Frederic Austin Ogg - Political science - 1922 - 778 pages
...summed up by Justice Pitney in Eisner v. Macomber, in the following words: 'Income may be defined as the gain derived from capital, from labor, or from...both combined, provided it be understood to include profits gained through the sale or conversion of capital assets."11 Nor would the court admit that...
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The Federal Reporter, Volume 275

Law reports, digests, etc - 1922 - 1084 pages
...down by the United States Supreme Court, within the purview of the Constitution, is denned as: " * * * The gain derived from capital, from labor, or from...both combined, provided it be understood to include profits gained through a sale or conversion of capital assets." Eisner v. Macomber, 252 US 189, citing...
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