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BYRON WESTON CO. v. UNITED STATES

No. 49060.

87 F.Supp. 955 (1950)

BYRON WESTON CO. v. UNITED STATES.

United States Court of Claims.

January 3, 1950.

Attorney(s) appearing for the Case

Horace S. Whitman, Washington, D. C., for the plaintiff. Hugh C. Bickford, Washington, D. C. was on the brief.

John W. Hussey, Washington, D. C., with whom was Assistant Attorney General Theron L. Caudle, for the defendant.

Before JONES, Chief Judge, and WHITAKER, HOWELL, MADDEN, and LITTLETON, Judges.

WHITAKER, Judge.

Plaintiff in its petition alleges that it sustained a loss of $40,351.51 for the calendar year 1942. When it filed its income tax return for 1943 it claimed this loss as a deduction from its 1943 income. Under the statute this loss was deductible first from its 1941 income, and only the excess of the loss over the 1941 income was deductible from 1943 income. There was no excess.

Section 122 of the...

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