1. Home
  2. Browse Decisions
  3. F.2d
  4. 124 F.2d
  5. 124 F.2d 292 (1941)
 

PHIPPS v. HELVERING

No. 7759.

124 F.2d 292 (1941)

PHIPPS v. HELVERING, Com'r of Internal Revenue.

United States Court of Appeals for the District of Columbia.

December 8, 1941.

Attorney(s) appearing for the Case

Mr. David A. Reed, of Pittsburgh, Pa., for petitioner.

Mr. Edward Hopkins Hammond, Sp. Asst. to the Atty. Gen., with whom Messrs. Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key, Sp. Asst. to the Atty. Gen., all of the Department of Justice, were on the brief, for respondent. Messrs J. P. Wenchel, Chief Counsel, and John M. Morawski, Sp. Atty., both of the Bureau of Internal Revenue, of Washington, D. C., also entered appearances for the respondent.

Before MILLER, VINSON, and EDGERTON, Associate Justices.

VINSON, Associate Justice.

This case raises a question of deductible loss under Section 23(e) of the 1932 Revenue Act, 26 U.S.C.A. Int.Rev.Acts, page 490, which provides, inter alia, that an individual may deduct from his gross income, losses incurred in trade or business, or incurred in any transactions entered into for profit.1 The Commissioner and the Board of Tax Appeals did not allow a deduction...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases