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ATKINS v. COMMISSIONER OF INTERNAL REVENUE

No. 7442.

76 F.2d 387 (1935)

ATKINS v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

March 27, 1935.

Attorney(s) appearing for the Case

W. S. Wilkinson and Elmo P. Lee, both of Shreveport, La., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., Sewall Key, J. Louis Monarch, and John MacC. Hudson, Sp. Assts. to Atty. Gen., and Robert H. Jackson, Asst. Gen. Counsel, Bureau of Internal Revenue, and John H. Pigg, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before BRYAN, SIBLEY, and HUTCHESON, Circuit Judges.

BRYAN, Circuit Judge.

The question presented by this petition for review is whether J. B. Atkins made bona fide sales of 49,342 shares of corporate stock. The Board of Tax Appeals held that the sales were fictitious, and therefore refused to allow any deduction for losses claimed on account thereof in the computation of income taxes. 28 B. T. A. 500.

In May, 1923, Atkins and D. H. Gray were living in Shreveport, La. The former was president and the latter...

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