Court Opinion

ID: 6869979
Source: CourtListenerOpinion
Date Created: 2022-07-23 20:59:39.292053+00
Date Added: 2024-06-11T16:05:23.250592
License: Public Domain

THOMPSON, Circuit Judge
(dissenting).
I am constrained to dissent in view of the decisions and reasoning in Lucas v. Earl, 281 U.S. 111, 50 S.Ct. 241, 74 L.Ed. 731, and Burnet v. Leininger, 285 U.S. 136, 52 S.Ct. 345, 76 L.Ed. 665, which hold that income is taxable to the owner of the property rights giving rise to the income, even though there may have been a prior assignment designed to divert the income, when accrued, into the hands of another.