Lynch v. Turrish’s Empirical Analysis

Citation profile

6 federal appellate · 5 district ·

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 15 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““The words ‘income, gains, and profits’ are used in common parlance and as legal terms in contradistinction to capital, property, and capital assets. The enhanced value of the land or property of a corporation, or of the stock of a corporation, which slowly accrues through a series of years from the natural and gradual increase of the value of the timber land or other property which the corporation holds without trading, is more analogous to property, capital, or capital assets than to income, gains, or profits. It is rather a growth, an increase of the property or capital assets, than income, gains, or profits produced by the property. * * * It is so unequitable, so unjust, so discriminatory to treat such an enhanced value, accruing through many years before the enactment of an income tax law, as the income, gains, or profits of the year in which it happens subsequently to be distributed, that the following rule, which is supported by the more forcible reasons and by the great preponderance of authority, has become the established law in the federal courts. The enhanced value of property which accrues from the gradual increase in its, value during a series of years prior to the effective date of an income tax law, although divided or distributed by dividend or otherwise subsequent to that date, does not become income, gains, or profits taxable under such an act. Such enhanced value, like the property of which it is an outgrowth and in which it adheres, becomes the absolute p”

   1 later decision quote this exact passage
   e.g. United States v. Guggenheim Exploration Co.

2. ““Because no income, gains, or profits accrued, to the plaintiff during the year 1914, or after March 1,1913, but during that time his property remained of the same value, and because the sale of the property of the Payette Company in 1914 and the distribution of its proceeds by a dividend to its stockholders was but a change of the form, without any increase of the value, of the property he owned before the Income Tax Law of 1913 took effect.””

   1 later decision quote this exact passage
   e.g. Lewellyn v. Gulf Oil Corp.

3. ““The enhanced value of property of a corporation which accrues from, the gradual increase in its value during a series of years prior to the effective date of an income tax law, although divided or distributed by dividends or otherwise, subsequent to that date, does not become ‘income, gains, or profits’ taxable under such an act, but is rather an ‘increase of capital assets.’ ””

   1 later decision quote this exact passage
   e.g. Gulf Oil Corp. v. Lewellyn