COYLE v. COMMISSIONER OF INTERNAL REVENUE

No. 8397.

142 F.2d 580 (1944)

COYLE et al. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

May 17, 1944.


Attorney(s) appearing for the Case

Peter B. Nelson, of Chicago, Ill., for petitioners.

Samuel O. Clark, Jr., Sewall Key, and Melva M. Graney, Asst. Attys. Gen., and J. P. Wenchel and Claude R. Marshall, both of Washington, D. C., for respondent.

Before EVANS, SPARKS, and MAJOR, Circuit Judges.


A $36,907.07 deficiency income tax assessment by the Commissioner for the year 1936 was approved by the Tax Court. This levy resulted from the disallowance of petitioners' claim of an asserted deduction for stock allegedly becoming worthless in that year. Feeling aggrieved by this ruling, petitioners seek reversal in this court.

EVANS, Circuit Judge.

Petitioners acquired 25,200 shares of the Atlantic & Pacific...

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