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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