DAVIS v. COMMISSIONER OF INTERNAL REVENUE

Nos. 11727, 11728.

241 F.2d 701 (1957)

Robert S. DAVIS, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Robert S. DAVIS, Respondent.

United States Court of Appeals Seventh Circuit.

March 1, 1957.


Attorney(s) appearing for the Case

Walter E. Barton, Washington, D. C., for Davis.

Charles K. Rice, Asst. Atty. Gen., Davis W. Morton, Jr., Attorney, Tax Division, U. S. Department of Justice, Washington, D. C., Lee A. Jackson, Robert N. Anderson, Attorneys, Department of Justice, Washington, D. C., for C. I. R.

Before LINDLEY and SCHNACKENBERG, Circuit Judges, and WHAM, District Judge.


LINDLEY, Circuit Judge.

In 11727 the taxpayer seeks to set aside a judgment of the Tax Court denying him the right to take as a deduction his admitted loss of $32,000 for the year 1945 on an investment in a part interest in an oil and gas lease. In 11728 the Commissioner seeks to avoid a judgment of the same court allowing the loss as a deduction for the year 1944. The second appeal is taken, as the Government frankly avows, to protect its rights if this court disturbs...

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