Evelyn Nell Norton v. Commissioner of Internal Revenue

HAMLEY, Circuit Judge.

This matter is before us on the petition of Evelyn Nell Norton to review a decision of the Tax Court of the United States pertaining to petitioner’s income taxes for 1959. In that decision, reported in 40 T.C. 500, the Tax Court disallowed all but $3,178.05 of a claimed $13,631.05 deduction for theft loss, asserted under sections 165(a) and (c) of the Internal Revenue Code of 1954 (Code), 26 U.S.C. § 165(a) and (c). The taxpayer urges that the court erred in failing to allow the entire amount.

All of the facts were stipulated and are fully set out in the Tax Court…