VAN CLIEF v. HELVERING

No. 8351.

135 F.2d 254 (1943)

VAN CLIEF et al. v. HELVERING, Commissioner of Internal Revenue.

United States Court of Appeals for the District of Columbia.

Decided April 12, 1943.


Attorney(s) appearing for the Case

Mr. Joseph J. Klein, pro hac vice, of New York City, by special leave of Court, with whom Mr. S. Milton Simpson, of Washington, D. C., was on the brief, for Petitioners.

Mr. Arthur Manella, Special Assistant to the Attorney General, pro hac vice, by special leave of Court, with whom Assistant Attorney General, Samuel O. Clark Jr., and Messrs. Sewall Key and Earl C. Crouter, and Miss Helen R. Carloss, Special Assistants to the Attorney General, were on the brief, for Respondents.

Messrs. J. P. Wenchel, Chief Counsel, and Robert L. Williams, Special Attorney, Bureau of Internal Revenue, both of Washington, D. C., also entered appearances for Respondent.

Before PARKER, Circuit Judge, sitting by designation, and VINSON and EDGERTON, Associate Justices.


PARKER, Circuit Judge.

This is a petition to review a decision of the Board of Tax Appeals, now the Tax Court of the United States. The question involved is the right of petitioners, husband and wife who filed a joint income tax return for the year 1937, to deduct as a loss $256,929.03 as representing the cost of stock alleged to have become worthless during that year. The stock was the property of the husband, Ray Alan Van...

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