Bowers v. Kerbaugh-Empire Co.

Bowers v. Kerbaugh-Empire Co.

Argued January 25, 1926
Decided May 3, 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
Holding
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.
Court membership
Chief Justice
William H. Taft
Case opinions
Majority Butler, joined by Taft, Holmes, Van Devanter, McReynolds, Sutherland, Sanford, Stone
Concurrence Brandeis
Laws applied
U.S. Const. amend. XVI

Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926), 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..

See also

External links

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