BRYANT, District Judge.
This is a suit for the recovery of $11,311.45 alleged to have been collected from the taxpayer as income taxes for the year 1936.
Question Presented.
Was the taxpayer, in computing his income taxes for the year 1936, entitled under Section 23(e) of the Revenue Act of 1936, 26 U.S.C.A. Int.Rev.Code, § 23(e), to deduct from gross income as a loss an amount paid by him to indemnify a bank, of which the taxpayer was president...
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