Mr. Justice Brandeis delivered the opinion of the Court. The Revenue Act of 1928 (c. 852, §§ 22, 111, 112, 113), provides, as had earlier Revenue Acts, that in computing income from sales of property purchased after February 28, 1913, any excess of the amount realized over cost shall be gain and that any excess of the cost over the amount realized shall be l…
Read the full opinion (source) ↗
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Citation figures are counts of later citing opinions in our corpus and may be incomplete; always read and Shepardize the full opinion before relying on it.