STUART v. COMMISSIONER OF INTERNAL REVENUE

No. 3098.

84 F.2d 368 (1936)

STUART v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, First Circuit.

June 3, 1936.


Attorney(s) appearing for the Case

Richard Wait, of Boston, Mass. (Abbot P. Mills, of Washington, D. C., on the brief), for petitioner for review.

Morton K. Rothschild, Sp. Asst. to the Atty. Gen. (Robert H. Jackson, Asst. Atty. Gen., and Sewall Key, Sp. Asst. to the Atty. Gen., on the brief), for Commissioner of Internal Revenue.

Before BINGHAM, WILSON, and MORTON, Circuit Judges.


WILSON, Circuit Judge.

The petitioner seeks to review a decision of the Board of Tax Appeals refusing to allow the petitioner to deduct from his gross income for the calendar year 1930 the sum of $35,633,55, paid by him to a trust of which he was trustee, to reimburse the trust for a loss of an improper investment in which he had participated, and, further, to deduct $7,411.26 paid by him as an individual to attorneys and accountants in connection with the same loss...

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