STERN v. COMMISSIONER OF INTERNAL REVENUE

No. 11226.

215 F.2d 701 (1954)

Julius Long STERN and Ellen V. Stern, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Third Circuit.

Decided September 17, 1954.


Attorney(s) appearing for the Case

Edgar J. Goodrich, Washington, D. C. (Lipman Redman, Guggenheimer, Untermyer, Goodrich & Amram, Washington, D. C., on the brief), for petitioners.

Meyer Rothwacks, Washington, D. C. (H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, Sp. Asst. to the Atty. Gen., on the brief), for respondent.

Before MARIS, KALODNER and HASTIE, Circuit Judges.


MARIS, Circuit Judge.

This petition to review a decision of the Tax Court presents the question whether the loss, if any, which the taxpayer sustained upon the sale of his former residence in 1948 was non-deductible for income tax purposes under section 24(b) (1) (A) of the Internal Revenue Code, 26 U.S.C.A. § 24(b) (1) (A). The facts in the case as found by the Tax Court are these:

The taxpayer,1 Julius Long Stern, built...

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