FEINE v. McGOWAN

No. 12, Docket 21651.

188 F.2d 738 (1951)

FEINE v. McGOWAN, Collector of Internal Revenue.

United States Court of Appeals Second Circuit.

Decided April 23, 1951.


Attorney(s) appearing for the Case

Daniel G. Yorkey, of Buffalo, N. Y. (Edward G. Kinkel, Albert R. Mugel, and Bertil L. Peterson, all of Buffalo, N. Y., on the brief), for plaintiff-appellant.

Melva M. Graney, Sp. Asst. to Atty. Gen. (Theron Lamar Caudle, Asst. Atty. Gen., Ellis N. Slack, Sp. Asst. to Atty. Gen., and George L. Grobe, U. S. Atty., and R. Norman Kirchgraber, Asst. U. S. Atty., both of Buffalo, N. Y., on the brief), for defendant-appellee.

Before L. HAND, AUGUSTUS N. HAND and CLARK, Circuit Judges.


CLARK, Circuit Judge.

Plaintiff George R. Feine sued the Collector of Internal Revenue for partial refund of his federal income tax paid for the year 1934, basing his claim upon the right to take a capital loss on the disposition of certain shares of corporate stock owned by him. The District Court refused the deduction, concluding that plaintiff's disposition of his stock was by way of gift or at least was not a transaction...

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