NIBLOCK v. C. I. R.

No. 17624.

417 F.2d 1185 (1969)

Donald C. NIBLOCK, Jr., and Marilyn Niblock, Petitioners-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals Seventh Circuit.

October 31, 1969.


Attorney(s) appearing for the Case

Stephen A. Seall, John L. Carey, South Bend, Ind., William A. Thorne, Elkhart, Ind., for appellants.

Johnnie M. Walters, Asst. Atty. Gen., Stanley L. Ruby, Attorney, Tax Division, U. S. Department of Justice, Washington, D. C., Lee A. Jackson, Thomas L. Stapleton, Attorneys, Department of Justice, Washington, D. C., for appellee.

Before DUFFY, Senior Circuit Judge, KILEY and FAIRCHILD, Circuit Judges.


DUFFY, Senior Circuit Judge.

This is an appeal from a judgment of the Tax Court which upheld the decision of the Commissioner of Internal Revenue in determining deficiencies in taxpayer's federal income taxes. These deficiencies resulted from a redetermination by the Commissioner that losses sustained by taxpayer in 1963 constituted nonbusiness bad debts and were erroneously carried back against ordinary income for the years 1960 and 1961. Donald C. and Marilyn Niblock...

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