SNOW v. MARCELLE

Civ. No. 8821.

90 F.Supp. 37 (1950)

SNOW et al. v. MARCELLE.

United States District Court E. D. New York.

March 9, 1950.


Attorney(s) appearing for the Case

Charles Korn, New York City (Jacob Rabkin, New York City, of counsel), for plaintiffs.

J. Vincent Keogh, United States Attorney, Brooklyn, N. Y., Frank J. Parker, Asst. U. S. Atty., Brooklyn, N. Y., Theron Lamar Caudle, Asst. Atty. Gen. (Andrew D. Sharpe and Frederick G. Rita, of counsel, Sp. Assts. to Atty. Gen.), for defendant.


KENNEDY, District Judge.

Plaintiffs sue for a refund in the amount of $14,372.51, which sum was assessed against them as additional taxes for the tax year 1941, as a result of the Commissioner's disallowance of a capital loss claimed to arise from the worthlessness of stock of City Mortgage Company (City). The loss was disallowed on the ground that the stock had become worthless prior to 1941. The relevant tax statute is Internal Revenue Code, Sec. 23(g) (2), 26 U...

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