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Show ACTUAL Mi niwr BEP Three Imrortant Decisions Deci-sions IlanJcJ Down by Supreme Court in Cases Affecting Taxes WASHINGTON'.. Varrli :M. -Tim kuprrnic ronrl pnvr thrr-a imorlaiit !priinni ftxliy invnlvinir frilrml fat Ian, a The firat ilrala with Ilia inT-aa In atua nf rapliat lnaimanl and aiia-falna aiia-falna that aiifn rf ha lnmm lat law; tha a, of 4 hnida mm tttrthia Ika Inaraaaa In lha talia nf riwrala hnfida; h ihrd hnlda na latatil arafna darlvad frirtn lha ana of aa aala nf a irva, f ind Inrraoaa af va'o i.f a rapnal lnvl-rnant lnvl-rnant la lalahla aa Inrmni umlar lha raranaa art r1 I9I. tha auprama rourl h.l.l a Tha amirt rulad thai Ika (ranaartinn ahnalna an armal Inaa rmil.lnl lia laia. alnro tharo aa no 'Bnln" da-rid da-rid ONLY ON 0AIN. Tha rmir'a drWalnn iraa a-ran In lha aiial nf taM M flumlrl, h from a ruiira nf lha Inlamal ravanua hiiraau. aaraatnff him npnn lha lnrraaaa.1 alna af alia-ka purrhaard prior In ll Ar. lion of lha ravanua ofriclala af firmad r lha auprama court In lha, tranaarllnn ahnwlnf a aln Inrraaaa In lha valua of corpora la honda. originally arnulrad and kald for Invaatmank la laiai'la undar lha ravanua rav-anua art nf III, lha auprama court alan rrulad Indar. Tha auprama rnurt ravaraa tha da-rlaion da-rlaion of fdrral rouria of tonnactirui. vhlrh hrld aaalnai lha fnvarnmanl on tha nuaailon of ohaihar aa Inonmo ma aould la lavtad aaainat an Inrraaaa In tha valua of aaruritiaa purchaaad and hald aa nn Invaaimanl. hul ruld that lha In muld only bo Impoaad on tha actual rain. AC'ICTf MANY. Thouaanda cf raara of Inouma aa-aaamanta aa-aaamanta coma within Ihla iia'lalon of Irh court upon which dapandrd lha na-raaaity na-raaaity nf lha (ovarnmanl rafundlna inllUnna of dollara In taira. I'rtiflia raaliaail from lha aala of aa. aala of a truat fund ara taiahla undar Incoma rra proflta law, lha auprama court held today Tha daclalonaof tha court, diraclly affa-ta aavaral raaaa now In initiation and Imlirartly afrma thouaanda of truat fiinria. It Waa aivan In tha appeal hroiiaht hy lha Mar. rhanla' loan and Truat company aa truainaa nf lh ralaia of AfUuir Jvyr i aon. a riuaan of 1 llnoia. WILL RtVICW. Tha auprama court affraad to ravlaw rlarlalnna nf Naw Vnrk cnurta hnldlni that "divldanda applied hy rrcilli In partial paymant of ailpulatad pramlumi did nnt conatltuta Inromr" and alao that daclina In market valua of aacur-ttiaa aacur-ttiaa ownad ky tha taxpayer conatl-tuled conatl-tuled "depreciation of a property. " Tho derlalnn of lAa lowar court waa rendered in favor of tha Kaw York-Ufa York-Ufa Inauranca company In auita filed ky that company acalnet rharlea W Anderaon. collactar of Internal raranua far lha aerond New York dlatrlct. |