TAXATION -FEDERAL ESTATE TAX-INTERPRETATION OF LOSS FROM "OTHER CASUALTY"

Authors

Virginia M. Renz, University of Michigan Law SchoolFollow

Abstract

The Federal Revenue Act provides that losses incurred during settlement of an estate should be deducted when they arise from "fires, storms, shipwreck, or other casualty." Losses to the estate of the testator of the petitioner were caused by Great Britain's going off the gold standard. The petitioners contend this was a casualty within the meaning of the Revenue Act. Held, the language is to be construed according to the rule of ejusdem generis. This casualty is not of the same general kind or class as those specifically mentioned and therefore not within the act. Lyman v. Commissioner of Internal Revenue, (C. C. A. 1st, 1936) 83 F. (2d) 811.

Recommended Citation

Virginia M. Renz, TAXATION -FEDERAL ESTATE TAX-INTERPRETATION OF LOSS FROM "OTHER CASUALTY", 35 Mich. L. Rev. 1030 (1937).
Available at: https://repository.law.umich.edu/mlr/vol35/iss6/25