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- Commissioner v. Glenshaw Glass Co., 348 U.S. 426 (1955), was an important income tax case before the United States Supreme Court. The Court held as follows:
* Congress, in enacting income taxation statutes that comprehend "gains or profits and income derived from any source whatever," intended to tax all gain except that which was specifically exempted.
* Income is not limited to "the gain derived from capital, from labor, or from both combined."
* Although the Court used this characterization in Eisner v. Macomber, it "was not meant to provide a touchstone to all future gross income questions."
* Instead, income is realized whenever there are "instances of [1] undeniable accessions to wealth, [2] clearly realized, and [3] over which the taxpayers have complete dominion."
* Under this definition, punitive damages qualify as "income" -- even though they are not derived from capital or from labor. (en)
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- Commissioner v. Glenshaw Glass Co., (en)
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- Commissioner of Internal Revenue v. Glenshaw Glass Company (en)
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- The Court held that Congress, in enacting the income taxation statutes, intended to tax all gain except that which was specifically exempted. (en)
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- Black, Reed, Frankfurter, Burton, Clark, Minton (en)
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- Commissioner v. Glenshaw Glass Co. (en)
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- Commissioner v. Glenshaw Glass Co., 348 U.S. 426 (1955), was an important income tax case before the United States Supreme Court. The Court held as follows:
* Congress, in enacting income taxation statutes that comprehend "gains or profits and income derived from any source whatever," intended to tax all gain except that which was specifically exempted.
* Income is not limited to "the gain derived from capital, from labor, or from both combined."
* Although the Court used this characterization in Eisner v. Macomber, it "was not meant to provide a touchstone to all future gross income questions."
* Instead, income is realized whenever there are "instances of [1] undeniable accessions to wealth, [2] clearly realized, and [3] over which the taxpayers have complete dominion."
* Under this (en)
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- Commissioner v. Glenshaw Glass Co. (en)
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- (en)
- Commissioner of Internal Revenue v. Glenshaw Glass Company (en)
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