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DOBSON V. COMMISSIONER, 320 U. S. 489 (1943)

U.S. Supreme Court

Dobson v. Commissioner, 320 U.S. 489 (1943)

Dobson v. Commissioner of Internal Revenue

Argued November 8, 1943

Decided December 20, 1943*

320 U.S. 489


1. The Tax Court was not required by any statute, applicable regulation, or principle of law to treat as taxable income of the taxpayer a recovery -- in respect of a loss (on a sale of stock) deducted and

Page 320 U. S. 490

allowed on returns for an earlier year, adjustment of the tax liability for which was barred by limitation -- where it found that, viewing as a whole the transactions out of which the recovery arose, the taxpayer had realized no economic gain and had derived no tax benefit from the loss deduction; and the Circuit Court of Appeals, on review, was without power to order that the recovery be treated us taxable income, rather than as a return of capital. P. 320 U. S. 506.

2. Where no constitutional question is involved, and in the absence of a controlling statute or regulation, a determination of the Tax Court as to whether particular transactions are integrated or separated for tax purposes is no more reviewable than any other question of fact. P. 320 U. S. 502.

3. When the reviewing court cannot separate the elements of a decision so as to identify a clear-cut mistake of law, the decision of the Tax Court must stand. P. 320 U. S. 502.

4. In determining questions of law, courts may properly attach weight to decisions of such questions by an administrative body having special competence to legal with the subject matter, and though decisions of the Tax Court may not be binding precedents for courts dealing with similar problems, uniform administration would be promoted by conforming to them where possible. P. 320 U. S. 502.

133 F.2d 732 affirmed in part, reversed in part.

Certiorari, 319 U.S. 739-740, to review a judgment which, on review of decisions of the Board of Tax Appeals, redetermining deficiencies in income tax, in No. 47 affirmed and in Nos. 446 reversed. See 46 B.T.A. 765, 770.

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