Old Colony Railroad v. Commissioner

Supreme Court of the United States · Decided 1932-02-15

Cited by 575 later decision(s) in our corpus · see the citation network in Lexace

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From the opinion

Mr. Justice Roberts delivered the opinion of the Court. The Revenue Act of 1921 defines gross income as including gains, profits and income derived by the taxpayer from any source whatever, and provides that in computing net income of a corporation “all interest paid or accrued within the taxable year on its indebtedness ” is deductible from such gross income.…

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