Supreme Court of United States.
MR. JUSTICE MURPHY delivered the opinion of the Court.
We are met here with the problem of whether the Tax Court properly found that certain corporate stock did not become worthless in 1937, thereby precluding the petitioning taxpayer from claiming a deductible loss in that year under § 23 (e) of the Revenue Act of 1936.
The facts, which are stipulated, show that the taxpayer in 1929 bought 1,100 shares of Class A stock of...
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