, 1869-01-19
INCOMES.
Pfomissory Notes and Bao
Debts Can be Deducted.
Important Decision.

In ,ht, frnisAS s.A.,.s II Atrtt Cpus. in tbs care
l 80, V..a $50. tctnsn, r Frnaf a+d r
y. zee on''eo otsSs '. -, s,rr. ~ ~,
/ .. hau. e1mctt7zeo u.y
TA1BuaB. Ii fully reported eelcw:
| The drfertxu. wa4 tncleted for mixing 4 false
,.,r,, ~ ia lcepue for the year 1866 unccr the
, te,nlO " ~ ~ 1..,s.
The del. Id.1i was partner OF William 3. a,n
{who ua. aI,o irdlcsrdl SD bad returnsd II In
come for thAt year $40 o55. The bookl Of the drn
sao*ee .n.s Ita oeen ~ see - .aa ptnnsa
OF tne oot!neHa 'o1 toAt 1eG aIo 70 fho
c1ec,t OF the defertatt ore-n4H OF th2t suE,
made as1intt tbs delct dant By the A1seeeo, uf
e. "a "a f,hs o,1y1n,l ,,xe..mrr. nsf-r ~
~, ., ..av nn,,e ~ ia getn
the ssc.sct t1AImsng Tho tax ahould ho PAID On
all debrs and Accounts th.t Hese Los actuslJy CT.
ma to MOD, md lou,
j. sppssrMse M On ne .a u,a tnat INC pfona p ent1ed
~ .ne - Fl ,h ~.sC .9e az y sesinx ~ tee
Hsshs, o. '1e & " S.c n apo -.
y. ~ .I1 aeo - sp9 9t auaa ~ Pfoata we're
Whrn ,he tr, re.e. ~ ~. tnr9 ng
e 1.r,uaed ii dtnis Te'eh ~ +. en1.,ssra.
rro.ra.d - Id cnni,tri -, 49, saa' aa
ltts snH inns steusn,en ~ ~. n ~
ts,1,-,. !, vaos =. ttoa,s on Lte eoose ano as
49, h.enr,c - nof.s e., n,a ean .nls "a
ssa or dnnnIui drsta !. ~, e.,rs or aoea
=, ~ so9ir tne9e1pon. tnf1 oSed the 9ufJ upon
tne NV .. re cite 20 we following eueet:
"!ku. oe Ale -, ~ uAtJ CAses Mocte m1n
.ua9 SLa ~ " NE upaAs i 7 oeotA aGe - NC
t.so't ~ .Ae Jss! uut ", - tneJ "3R1 coL4u.
@ aa,e Aeetn, s naa 1onis nrRln ing oLan.'oa " Q!
Ell E. os pIoau InI s1amp.e' insteae g! 81 a1nsS
1sn1rc hnEes1I n11,.cr, =, a,>, III e. h,oaa, 81 s
~, DULL - neft aSee - $" uluSs* ~ Al1os o.
- ~ - ~. :, ~ ~ ht' M Is 6eSt ~ ~, p.opSty
.sI t.tict.i nstt NJ r"i ctu.1x no.ss
s.nIe ~ rsot.aan,s,s ~. ~ ~ sG.uAv Moaty.
trssa. suu snih H. ~ .nnn. ~ Moae5' ,noo.H
Sith shsm he eoyrMm, !. s,,,,sd a, ~ sod snd
.in.c snrno,fsd t1rtnt r, mret sa1.t ~ a ~ ~
1hgcnen Rc ers;nns MN Ruaa ~ ~ seo
~ tnhd, ~ ~ tvn,pr, s..t,. .'4os ~ =
rors,nr,.m - ron'x -. s.,, ~
cans: convertible: a. o1ce into moos1.
r5ce,vrd ~ ,hs re.-1taT ~. n,.tn.. Ao
arr terinm.fe,r mar. ot = sr,,s tneom.' ETes
rni- x.sn IL hs -. .s-s ~ 49,. - t .na
fhrm II y, ~ nrn,r.tr rr,i ~ r.,.n1r.t - II II
.t..a -. ~ ns,I * p.ots..! EH " petsouE. IN ~
Rser nsn ~ ~ .nd n1 X s.- Gs t;oua. hos
bis hnoIs aononnts rh,t.aa ~. tn1l aSnn9 uGon
..,,.r. - + ~ " entee et-nout ntt4hk
rntsnoser tor.i thrn, p.tn. -, ae1m Iaoe.. 70 ne
hs,6 r-rt.;n,r re17 m,n .hn,,a ~ ea Vas
asreIenrc ~ 5n,nIn- pe,wn VI ~
eo1tIment ofaceI. =. 10 ThstueI ha .n au '1e a.
e.. " .r. .s,n.r. ~ - 49, ~ S 49, ~ .. ~. u
-. .n ~ ~ 49,. ~ o1a y. oono - oeots
III =, H. A.. liz ~ the ~ ~ e shat
a. rt,', o.e VIZ sne -, = ee !na1aeo -
Aeohe nhisse kho%n 10 % an.o,9t.ls worth
!:es. y ~ oHen dlm inlt ptool:m
III, x essse ss,erg Thsa u, ia ~ TO- n
c!suoh 70 the Pa5tJ ntetnR the return man
nha aasefteo ~ hle capital IN sfaftlng business.
s.rc no,,a.i 1-ost. ne enu o. sas yes TO Eed
iMgo no'alnA! pse1n seeoaLn 9nd Bills re-
..are, nc ,4Has 70. N isct aate tns monsY 70
aEtte government Hxsn these pr''d:e. Tskc
stoheF l4rslaslon: man might have pro.
nirhssJ Lote o. thousand dollar. which was
cALeo GOOD when he made his return, and thus
~ az Gn y es 70 much fLe'nc, AID. IL fac II
n''l,c, to pay for Hh,t he thought -. <ool, sns
We not ftan5 so x Is taid. lndcfd, thit the
The succeeding income rrtusne. pnt fupp nc
MAJ feFef Aitef cas- taxable 1ocone. thtn he
ntTrs Is fctIohutsed. TeLte bad al~a91 eeemed
" Ee tonettlIE TfoER In the practical opef 4ttun
tfspt 20 ine!nae as 1ar. Of ulnss lneo ne
MN M u Gsa;ed a:. OF covert nl7 In. n may.
| TAX on book accounts. OF roses uneo.,ecioas I'D
| rteI It va EnesFlan whether OF not they cver'
| een,d oe collected: Aut, Of course. II rnau
| inftead of eolsecunC. he permitted to fcua1r
OF they Wt1o raj gains OF produ. be n ant
1o 1ot tles % esads The Pa3ment o. wa1tH jn.tl1
une te goT' runcnt. 1hc Principle woula oe the
taTe sppl!cc 10 my otter KIND Of EVIDENCE VI
a.nt ~ PIT n!t: orJ notes, hs IL Of C1ehAaxc~ etc.
Me ste ons VA p Inl.tsd TO eVAae ihe Law ~hen be
but she ttue rue would see11 70 b, 70 impose
ano @ eotiest 10 I.f on resl gains, nfufA Of In
~, nu ,ns pe' n ou Moa ~ 49, sEsiI soiaa .h.
- - -. ...a ua.1k 49, ~ .oo. nost iLe' ~
can.e e VIE ZONE o. tnc general yie.s or the
~ ecr-st ~ -at ~ s4nes -. Haetasf tndy
1m, Estte t, - 1ol* !Sl u wa eo1!csseoiJA
C, ~ - A ~ - ",tn ehttts attutacy. the
NV. u We nf!n'oE that tnc n:ts would not
.pnrta rt ~, "a tae Oittf,ct AitufLes
~ b. LIZ * 4'AeAnAat Has acquitted bJ the
!: ~. r,,,-.
r,.s4.ree nv Gsentsea - o. she hithest IN
nc y9eEs aaea thls Iote TO the 1oreso
~ ~ ~. ~. ~, tce - ,t;, Sos;1e:
@ LII sEn Ialseioa la1 o. nFe pet cent on Tho
~. oI. nnutaIa coutH1s N
I~ffvf ESbht~ A1+3 *HeVh+S "a EFtlY PEl-
soE,
x. ane ~" ees!hA Nnat shau DC icelca d In est-
aa'.1X 1ns KALt, psonts eao lncoGu Of per
ttoi = lne enae oe1SSed no 1teflst On notes
K'u u ST seeeflfee o. TIC United states; ptot:.
nauzee rom sAc ~ :aEct. de.; 1nleft received
" esaoee at Eotcs, noE:1s 6e.. enitg 1steftat
Mast'ff pa1o u tot. " 9o0d d'id to4tEn5'<-
ma stema % e tee on!I i'ls;o ~here tnc law
spesks G,e-ih4iseiI o. in:escs. Ae-ra1nE, eat hot
pm p,nr, ~ nae 81. ~" - eesh .. asons A. gosai ofIe.