MAY DEPARTMENT STORES CO.

v.

REYNOLDS

Citator

Cited By

• Raytheon Production Corpration v. Commissioner of Internal Revenue, 144 F.2d 110 (1st Cir. 1944)
  …cessarily nontaxable as a return of capital. As in other types of tort damage suits, recoveries which represent a reimbursement for lost profits are income. Swastika Oil & Gas Co. v. Commissioner, 6 Cir., 1941, 123 F. 2d 382, certiorari denied 1943, 317 U.S. 639, 63 S.Ct. 30, 87 L.Ed. 515; H. Liebes & Co. v. Commissioner, 9 Cir., 1937, 90 F. 2d 932; Sternberg v. Commissioner, 1935, 32 B.T.A. 1039. The reasoning is that since the profits would be taxable income, the proceeds of litigation which are their sub…
• Hecht Co., Inc. v. Jacobsen, 180 F.2d 13 (D.C. Cir. 1950)
  …, 1903, 189 U.S. 468, 470, 23 S. Ct. 622, 623, 47 L.Ed. 905, 903; Hellweg v. Chesapeake & Potomac Telephone Co., 1940, 71 App.D.C. 346, 348, 110 F. 2d 546, 548. . Reynolds v. May Dept. Stores Co., 8 Cir., 1942, 127 F. 2d 396, 397, certiorari denied 317 U.S. 639, 63 S.Ct. 31, 87 L.Ed. 515; cf. Crane v. Smith, 1943, 23 Cal.2d 288, 144 P. 2d 356, 361; see Prosser, Torts 246-7 (1941). . See discussion and authorities collected in Prosser, Torts 256 et seq. (1941); [*16] Harper, Torts 170-171 (1933); 38 Am. Ju…
• Jones v. Corbyn, 186 F.2d 450 (10th Cir. 1950)
  …9; Raytheon Production Corp. v. Commissioner of Internal Revenue, 1 Cir., 144 F. 2d 110, certiorari denied 323 U.S. 779, 65 S.Ct. 192, 89 L.Ed. 622; Swastika Oil & Gas Co. v. Commissioner of Internal Revenue, 6 Cir., 123 F. 2d 382, certiorari denied 317 U.S. 639, 63 S.Ct. 30, 87 L.Ed. 515; Parker v. Commissioner, 5 T.C. 1355. Income received must be considered in the light of the source from which it was realized. Swastika Oil & Gas Co. v. Commissioner of Internal Revenue, supra; Farmers’ and Merchants’ Ban…