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United States

Commissioner v Banks

543 US 426 (2005)
JurisdictionUnited States
Year2005
Statusunclear

Key Principle

Attorney's fees paid from a litigation recovery are includable in the taxpayer's gross income; the entire recovery is income to the plaintiff, not just the net amount after fees.

Area of Law

tax

Related Cases

Commissioner of Taxation v Consolidated Media Holdings Ltd (2012) 250 CLR 503
Federal Commissioner of Taxation v Consolidated Media Holdings Ltd (Statutory Construction) [2012] HCA 55
Aid/Watch Inc v Commissioner of Taxation (2010) 241 CLR 539

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