VAN ORSDEL, Associate Justice.
This appeal from the United States Board of Tax Appeals involves the right of appellant to a deduction of net loss suffered in 1923 from his taxable income for the year 1924.
It appears from the facts found by the Board that appellant, a resident and citizen of New York, was for many years prior to 1923 engaged in business as a wholesale and retail liquor dealer. He continued this business until 1922, after which he ceased purchasing...
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