HOUSTON v. COMMISSIONER OF INTERNAL REVENUE

No. 4210.

39 F.2d 351 (1930)

HOUSTON v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Third Circuit.

March 14, 1930.


Attorney(s) appearing for the Case

Wm. Clarke Mason, of Philadelphia, Pa., for petitioner.

Allin H. Pierce, of Washington, D. C., for respondent.

Before WOOLLEY and DAVIS, Circuit Judges, and JOHNSON, District Judge.


WOOLLEY, Circuit Judge.

Samuel F. Houston deducted a loss in his income tax return for 1920 as though sustained in that year. The Commissioner disallowed the deduction on the ground that there was not at any time a deductible loss, or, if such a loss in substance, it was not deductible because not sustained in that year and assessed a corresponding deficiency tax. The United States Board of Tax Appeals approved the action of the Commissioner. Thereupon Samuel F. Houston...

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