1. Home
  2. Browse Decisions
  3. F.2d
  4. 35 F.2d
  5. 35 F.2d 713 (1929)
 

SHERMAN & BRYAN v. BLAIR

No. 210.

35 F.2d 713 (1929)

SHERMAN & BRYAN, Inc., v. BLAIR, Commissioner of Internal Revenue.

Circuit Court of Appeals, Second Circuit.

July 22, 1929.

Attorney(s) appearing for the Case

Earl B. Barnes, of New York City, and R. S. Doyle and John Enrietto, both of Washington, D. C. (Hopkins, Starr, Hopkins & Hamel, of Washington, D. C., of counsel), for petitioner.

Mabel Walker Willebrandt, Asst. Atty. Gen., and Sewall Key and John Vaughan Groner, Sp. Asst. Attys. Gen. (C. M. Charest, Gen. Counsel, Bureau of Internal Revenue, of New York City, of counsel), for respondent.

Before MANTON, SWAN, and AUGUSTUS N. HAND, Circuit Judges.

SWAN, Circuit Judge.

The questions presented involve the construction of section 234(a) of the Revenue Act of 1918 (40 Stat. 1077). This section declares that in computing the net income of a corporation there shall be allowed as deductions from gross income:

"(4) Losses sustained during the taxable year and not compensated for by insurance or otherwise;

"(5) Debts ascertained to be worthless and charged off within the taxable year. * * *"

NEVER MISS A DECISION. START YOUR SUBSCRIPTION.

Uncompromising quality. Enduring impact.
Your support ensures a bright future for independent legal reporting.

As you are aware we have offered this as a free subscription over the past years and we have now made it a paid service.Look forward to your continued patronage.

GET STARTED
OR

Read it with your Leagle account.
Sign in to continue


Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases