COMMISSIONER OF INTERNAL REVENUE v. ABRAMSON

Nos. 101, 102.

124 F.2d 416 (1942)

COMMISSIONER OF INTERNAL REVENUE v. ABRAMSON. ABRAMSON v. COMMISSIONER OF INTERNAL REVENUE. COMMISSIONER OF INTERNAL REVENUE v. LEVY. LEVY v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

January 7, 1942.


Attorney(s) appearing for the Case

Elliot A. Daitz, of New York City, (Herman Zarin and Sidney Stark, both of New York City, of counsel), for Joseph G. Abramson and Joseph Levy.

Samuel O. Clark, Jr., Asst. Atty. Gen., and J. Louis Monarch and Michael H. Cardozo, IV, Sp. Assts. to Atty. Gen., for the Commissioner.

Before SWAN, AUGUSTUS N. HAND, and CHASE, Circuit Judges.


CHASE, Circuit Judge.

Joseph G. Abramson and Joseph Levy each owned a one-third interest in a partnership during 1934, the taxable year here involved. The partnership, at the beginning of that year, owned two separate parcels of real estate in the City of New York; one on West 44th Street and one on West 43rd Street. It sustained losses on both parcels and each of the above taxpayers claimed as a deduction in 1934 his proportionate share as an ordinary loss. The Commissioner...

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