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COMMISSIONER OF INTERNAL REVENUE v. PURDY

No. 3406.

102 F.2d 331 (1939)

COMMISSIONER OF INTERNAL REVENUE v. PURDY.

Circuit Court of Appeals, First Circuit.

March 2, 1939.

Attorney(s) appearing for the Case

Loring W. Post, Sp. Asst. to Atty. Gen. (James W. Morris, Asst. Atty. Gen., and Sewall Key, Sp. Asst. to Atty. Gen., on the brief), for Commissioner of Internal Revenue.

G. K. Richardson, of Boston, Mass. (Richardson, Wolcott, Patten & Bennett, of Boston, Mass., on the brief), for Charles Wesley Purdy.

Before BINGHAM and WILSON, Circuit Judges, and SWEENEY, District Judge.

SWEENEY, District Judge.

This is a petition to review a decision of the Board of Tax Appeals of November 26, 1937 (36 B.T.A. 572), in which it was determined that a deficiency existed in the income tax of this respondent for the year 1932 in the amount of $233.09.

The question before the court is whether a gain from the sale by the taxpayer of 1,100 shares of General Electric Company stock was a capital gain which could not be used to offset a loss from the...

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