NEUBERGER v. COMMISSIONER OF INTERNAL REVENUE

No. 117.

104 F.2d 649 (1939)

NEUBERGER v. COMMISSIONER OF INTERNAL REVENUE. COMMISSIONER OF INTERNAL REVENUE v. NEUBERGER.

Circuit Court of Appeals, Second Circuit.

June 12, 1939.


Attorney(s) appearing for the Case

Proskauer, Rose & Paskus, of New York City (Walter Mendelsohn, Wilbur H. Friedman, and Martin Norr, all of New York City, of counsel), for taxpayer.

James W. Morris, Asst. Atty. Gen., and Sewall Key and F. E. Youngman, Sp. Assts. to Atty. Gen., for the Commissioner.

Before SWAN, CHASE, and PATTERSON, Circuit Judges.


PER CURIAM.

During the year 1932 the taxpayer, who was a member of the New York Stock Exchange, was engaged in the business of trading in securities on the floor of the Exchange for a partnership of which he was a member and also for his individual account. The taxpayer's petition presents two questions: (1) whether a loss sustained by him during the year on his individual transactions in stocks and bonds which were non-capital assets as defined in section 101 of...

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