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COMMISSIONER OF INT. REVENUE v. HIGHWAY TRAILER CO.

No. 5143.

72 F.2d 913 (1934)

COMMISSIONER OF INTERNAL REVENUE v. HIGHWAY TRAILER CO.

Circuit Court of Appeals, Seventh Circuit.

Rehearing Denied October 30, 1934.

Attorney(s) appearing for the Case

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key and J. P. Jackson, Sp. Assts. to Atty. Gen., for petitioner.

R. M. Stroud, of Madison, Wis., for respondent.

Before ALSCHULER, EVANS, and SPARKS, Circuit Judges.

SPARKS, Circuit Judge.

This petition to review a decision of the Board of Tax Appeals presents the very troublesome question as to the year in which the taxpayer should be allowed to take a deduction for loss by fire under the statute which provides that deductions shall be allowed for losses sustained during the taxable year and not compensated for by insurance or otherwise. 26 USCA § 986 (a) (4).

Respondent, a Wisconsin corporation engaged in the manufacture...

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