MURRAY v. COMMISSIONER

Docket No. 86468.

21 T.C.M. 7 (1962)

T.C. Memo. 1962-2

David W. Murray, Jr. and Gretchen Murray v. Commissioner.

United States Tax Court.

Filed January 4, 1962.


Attorney(s) appearing for the Case

Walter J. Murray, Esq., 3965 Penobscot Bldg., Detroit, Mich., for the petitioners. J. P. Graham, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

FAY, Judge:

The Commissioner determined a deficiency of $18,063.83 in the petitioners' income tax for the taxable year 1956. The sole question for decision is whether the petitioners are entitled to deduct as a casualty loss the amount of $30,334.35 which was claimed by them but disallowed by the Commissioner.

Findings of Fact

Some of the facts are stipulated and are found as stipulated.

The...

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