Helvering v. PriceAnnotate this Case
309 U.S. 409 (1940)
U.S. Supreme Court
Helvering v. Price, 309 U.S. 409 (1940)
Helvering v. Price
Argued March 5, 6, 1940
Decided March 25, 1940
309 U.S. 409
A taxpayer, keeping accounts upon a cash basis, is not entitled to deduct, as a loss sustained during the taxable year, Revenue Act, 1932, § 23(e), a payment made in discharge of his liability to a bank on a guaranty, but made by substituting his new note to the bank for his earlier one, of the same amount. P. 309 U. S. 412.
106 F.2d 336 reversed.
Certiorari, 308 U.S. 548, to review the reversal of a decision of the Board of Tax Appeals sustaining a deficiency assessment.
Official Supreme Court case law is only found in the print version of the United States Reports. Justia case law is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.