Later courts went against this
Overruled by Graves v. New York Ex Rel. O'Keefe, 306 U.S. 466 (1939)
Listed in the Constitution Annotated's table of Supreme Court decisions overruled by subsequent decision (entry 49, expressly overruled).
The opinion
Me. Justice Stone and Mr. Justice Cardozo,
concurring in the result:
We concur in the result upon the ground that the petitioner has brought himself within the terms of the exemption prescribed by Treasury Regulation 74, Article 643, which for the purposes of this case may be accepted as valid, its validity not being challenged by counsel for the Government.
In the absence of such a challenge no opinion is expressed as to the need for revision of the doctrine of implied immunities declared in earlier decisions.
We leave that subject open.