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GUTWIRTH v. COMMISSIONER

Docket Nos. 77881, 77884, 77952.

40 T.C. 666 (1963)

CHARLES GUTWIRTH, ET AL., PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed June 27, 1963.

Attorney(s) appearing for the Case

Maurice Austin, Leo A. Diamond, and Alex J. Soled, for the petitioners.

Stephen M. Miller and Warren S. Shine, for the respondent.

The Commissioner determined deficiencies in income tax in the amounts of $61,393.19, $38,863.49, and $13,579.02 against Isidore Lipschutz, Charles Gutwirth, and Albert Gutwirth, respectively, for the year 1946. The matters presently in controversy are: (1) Whether an ordinary deductible loss in the amount of $125,700.67 was sustained by petitioners' partnership in its fiscal year ending January 31, 1946, by reason of enemy bomb damage or otherwise in respect of certain

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