BURNSIDE VENEER CO. v. COMMISSIONER OF INTERNAL REV.

No. 10500.

167 F.2d 214 (1948)

BURNSIDE VENEER CO., Inc. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Sixth Circuit.

April 7, 1948.


Attorney(s) appearing for the Case

Elden McFarland, of Washington, D. C. (Ike Lanier and Harold Walker, both of Cincinnati, Ohio, and Elden McFarland and C. Chester Guy, both of Washington, D. C., on the brief), for petitioner.

Helen Goodner of Washington, D. C. (Theron Lamar Caudle, George A. Stinson, and Carlton Fox, all of Washington, D. C., on the brief), for respondent.

Before SIMONS, ALLEN, and MARTIN, Circuit Judges.


ALLEN, Circuit Judge.

This is a petition to review a decision of the Tax Court of the United States which sustained the Commissioner's disallowance of a deduction claimed by petitioner, a Kentucky corporation. In its return for the fiscal year ending November 30, 1941, petitioner deducted $24,140.35 as a long-term capital loss, being the difference between the cost of 655 shares of capital stock of Glanton Veneer Company, a North Carolina corporation (hereinafter...

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