HUGHES' ESTATE v. BURNET

No. 5758.

65 F.2d 604 (1933)

HUGHES' ESTATE v. BURNET, Commissioner of Internal Revenue.

Court of Appeals of the District of Columbia.

Decided May 8, 1933.


Attorney(s) appearing for the Case

B. H. Warner, Jr., of Washington, D. C., for appellant.

G. A. Youngquist, Sewall Key, S. Dee Hanson, C. M. Charest, and T. M. Mather, all of Washington, D. C., for appellee.

Before MARTIN, Chief Justice, and ROBB, VAN ORSDEL, HITZ, and GRONER, Associate Justices.


PER CURIAM.

The question involved on this appeal is whether appellant is entitled to a deduction from income for the taxable year 1923 on account of losses sustained in 1923 on stocks and bonds of the Soconusco Estates Company. The Board sustained the Commissioner in holding the deduction not allowable on the ground that the "record does not show the fair market value of decedent's stock and bonds of the Soconusco Estates Company on March 1, 1913."

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