...US 465, in the following January. It cited the Jones case with approval, at p. 469, saying: ". . . The legal right of a taxpayer to decrease the amount...by means which the law permits, cannot be doubted." So well settled had the judicial interpretation become that the Treasury determined to recommend that...

...Court has so held more than once. In Gregory v. Helvering, 293 US 465, 469, the Supreme Court said : The legal right of a taxpayer to decrease the amount...means which the law permits, cannot be doubted. The court cites as authority for this statement United States v. Isham, 17 Wall. 496, 506 ; Superior OH...

...they had the undoubted right to do. In Gregory v. Hetoering, 293 US 465, 469, the Supreme Court said : The legal right of a taxpayer to decrease the amount...by means which the law permits, cannot be doubted. 460 Opinion of the Court The court cited as authority for this statement United States v. I sham, 17...

...Lines, Inc. — Purchase — Mellon Natl. Bank, 57 MCC 199 (204). 9. Reduction of tax payments. — The legal right of a taxpayer to decrease the amount...by means which the law permits, cannot be doubted. In general, a tax saving lawfully attained, is a proper objective. — Savannah & A. By. Co. Control...

...within the intent of the statute. P. 468. 2. By means which the law permits, a taxpayer has the right to decrease the amount of what otherwise would be his taxes, or altogether to avoid them. P. 469. 3. The rule which excludes from consideration the motive of tax avoidance is...

...revenue acts. A sale is such a means; in fact, deductible losses are often sustained through sales. " The legal right of a taxpayer to decrease the amount...altogether avoid them, by means which the law permits, can not be doubted." Gregory v. Helver'mg, 293 US 465 (and cases cited therein ) . To the same effect...

...791. In Gregory v. Helvering, 293 US 465, the Supreme Court in the course of its opinion said: * * * The legal right of a taxpayer to decrease the amount...by means which the law permits, cannot be doubted. United States v. Isham, 17 Wall. 496. 506 : Superior Oil Co. v. Mississippi. 280 US 300, 395, 396 ;...

...deemed sufficient to give substance to the recapitalization. The Court observed in the Gregory case that : "The legal right of a taxpayer to decrease...altogether avoid them, by means which the law permits, can not be doubted," citing United States v. Isham, 17 Wall. 496; Sitperior Oil Co. v. Mississippi,...

...true beyond question. Thus the court, in the Gregory case, at page 469, said: The legal right of the taxpayer to decrease the amount of what otherwise would be his taxes, cannot be doubted. United States v. Isham, 17 Wall. 496 506; Superior Oil Co. v. Mississippi, 280 US...

...treatment of the partnership by state law and decisions for purposes of state law. P. 287. 4. While the legal right of a taxpayer to decrease the amount...altogether avoid them by means which the law permits can not be doubted, Gregory v. Helt'tring, 293 US 405, this Court can not order the Tax Court to shut...