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COMMISSIONER OF INTERNAL REVENUE v. MATHESON

No. 7809.

82 F.2d 380 (1936)

COMMISSIONER OF INTERNAL REVENUE v. MATHESON.

Circuit Court of Appeals, Fifth Circuit.

February 27, 1936.

Attorney(s) appearing for the Case

J. P. Jackson, Sp. Asst. to the Atty. Gen., Frank J. Wideman, Asst. Atty. Gen., Sewall Key and Harry Marselli, Sp. Assts. to the Atty. Gen., and Robert H. Jackson, Asst. Gen. Counsel, Bureau of Internal Revenue, and Clay C. Holmes, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for petitioner.

Douglas D. Felix, of Miami, Fla., and Elliott W. Smith, of New York City, for respondent.

Before FOSTER, SIBLEY, and WALKER, Circuit Judges.

SIBLEY, Circuit Judge.

The sole question is whether the Board of Tax Appeals erred in point of law in holding on stipulated facts that the taxpayer, Hugh M. Matheson, was entitled to measure his loss in selling certain shares of stock during the year 1930 by putting their cost at the price agreed on when he received them on account of a money legacy in his father's will, rather than at their lesser market value on that date. The stipulated facts are, in brief, that...

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