National Affairs: What Tax?

Questions of infinite variety, born in the complexity of the Income Tax Law, are posed almost daily to the Supreme Court. No matter how detailed they may be, the Court addresses itself to them.

¶Four questions on which answers are hourly expected:

1) The Republic of Cuba granted a subsidy to the Cuba R. R., a U. S. corporation. Is such subsidy taxable income? (The District Court decision had cost the Railroad $20,239.)

2) E. Palmer Gavit received income from a trust fund whose principle he can never touch. Is it taxable income?

(The District Court...

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