diff --git a/IPython/core/tests/test_ultratb.py b/IPython/core/tests/test_ultratb.py
index d4f4369..07c9ba5 100644
--- a/IPython/core/tests/test_ultratb.py
+++ b/IPython/core/tests/test_ultratb.py
@@ -138,3 +138,12 @@ class SyntaxErrorTest(unittest.TestCase):
             # The SyntaxError should point to the correct line
             with tt.AssertPrints(["7/", "SyntaxError"]):
                 ip.magic("run " + fname)
+
+    def test_non_syntaxerror(self):
+        # SyntaxTB may be called with an error other than a SyntaxError
+        # See e.g. gh-4361
+        try:
+            raise ValueError('QWERTY')
+        except ValueError:
+            with tt.AssertPrints('QWERTY'):
+                ip.showsyntaxerror()
diff --git a/IPython/testing/tools.py b/IPython/testing/tools.py
index 52fdc58..c2fe99b 100644
--- a/IPython/testing/tools.py
+++ b/IPython/testing/tools.py
@@ -357,6 +357,9 @@ class AssertPrints(object):
         setattr(sys, self.channel, self.buffer if self.suppress else self.tee)
     
     def __exit__(self, etype, value, traceback):
+        if value is not None:
+            # If an error was raised, don't check anything else
+            return False
         self.tee.flush()
         setattr(sys, self.channel, self.orig_stream)
         printed = self.buffer.getvalue()
@@ -375,6 +378,9 @@ class AssertNotPrints(AssertPrints):
     
     Counterpart of AssertPrints"""
     def __exit__(self, etype, value, traceback):
+        if value is not None:
+            # If an error was raised, don't check anything else
+            return False
         self.tee.flush()
         setattr(sys, self.channel, self.orig_stream)
         printed = self.buffer.getvalue()