DEEDS v. COMMISSIONER OF INTERNAL REVENUE

Nos. 5542-5544.

47 F.2d 695 (1931)

DEEDS v. COMMISSIONER OF INTERNAL REVENUE (two cases). KETTERING v. SAME.

Circuit Court of Appeals, Sixth Circuit.

March 4, 1931.


Attorney(s) appearing for the Case

W. W. Spalding, of Washington, D. C. (Lee Warren James and R. K. Landis, both of Dayton, Ohio, and Mason, Spalding & McAtee, of Washington, D. C., on the brief), for petitioners.

Harvey R. Gamble, of Washington, D. C. (G. A. Youngquist, Asst. Atty. Gen., and J. Louis Monarch, C. M. Charest, and John MacC. Hudson, all of Washington, D. C., on the brief), for respondent.

Before DENISON, MOORMAN, and HICKENLOOPER, Circuit Judges.


HICKENLOOPER, Circuit Judge.

The present petitions for review raise questions of the right of the petitioning taxpayers to deduct from their incomes, in making tax returns for the year 1921, losses claimed to have been sustained by them in the year 1921 from investments in the capital stock of the Smith Gas Engineering Company, and also debts owing to them by that company which, it is claimed, were determined to be worthless...

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