Tags: Case, Legal Case, Supreme Court Of The United States Case, Unit Of Work.
Towne v. Eisner 245 U.S. 418 (1918) is a United States Supreme Court case in which the Court held that a stock dividend based on accumulated profits was not ‘income’ within the true intent of the statute. Congress passed a new law in reaction to Towne v. Eisner and as a result the case was soon overturned by the Supreme Court in Eisner v. Macomber.