1. Home
  2. Browse Decisions
  3. F.2d
  4. 219 F.2d
  5. 219 F.2d 128 (1955)
 

BURNS v. COMMISSIONER OF INTERNAL REVENUE

No. 15178.

219 F.2d 128 (1955)

Jay BURNS, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals, Fifth Circuit.

February 4, 1955.

Attorney(s) appearing for the Case

John E. Simpson, Alex P. Gaines, Atlanta, Ga., for petitioner.

Meyer Rothwacks, Ellis N. Slack, Harry Baum, Sp. Assts. to Atty. Gen., H. Brian Holland, Asst. Atty. Gen., Daniel A. Taylor, Chief Counsel, John M. Morawski, Sp. Atty., Internal Revenue Service, Washington, D. C., for respondent.

Before HUTCHESON, Chief Judge, and RIVES and TUTTLE, Circuit Judges.

TUTTLE, Circuit Judge.

In this review of a decision of the Tax Court, involving income tax liability of petitioner for the year 1947, the question is whether a loss resulting from the sale of an unimproved lot in 1947 admittedly purchased in 1926 for use in the bakery business of petitioner, was deductible as an ordinary loss under Sec. 23(e) of the Internal Revenue Code of 1939, or as a capital loss under Secs. 23(g) and 117(a) (1).1...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases