GILFORD v. COMMISSIONER OF INTERNAL REVENUE

No. 48, Docket 22412.

201 F.2d 735 (1953)

GILFORD v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Second Circuit.

Decided February 5, 1953.


Attorney(s) appearing for the Case

Harry Friedman, Washington, D. C., for petitioner.

Charles S. Lyon, Asst. Atty. Gen., Ellis N. Slack and S. Dee Hanson, Sp. Assts. to Atty. Gen., for respondent.

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


CHASE, Circuit Judge.

The question presented by this appeal is whether a loss from the sale of real estate which the petitioner sustained in 1944 was an ordinary loss and deductible only in that year or a capital loss which could be carried over to later years pursuant to I.R.C. § 117 (a) (11), (e) (1) as amended by § 150(c) of the Revenue Act of 1942, 26 U.S.C.A. § 117(a) (11), (e) (1).

The real estate involved is an improved block front, Nos...

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