Stokes v. United States

MANDELBAUM, District Judge.

This action is to recover income taxes paid by the plaintiff to the United States for the year 1929:

The basis of the complaint is that in 1929, the plaintiff sustained a. loss of $36,-719.33 during that year which he contends was incurred in -a transaction • entered into for profit, although - not connected with plaintiff’s business, and which loss was rejected by the Commissioner of Internal Revenue as a deduction from plaintiff’s gross, income for-that year. , ,

The defendant in resisting recovery contends that the transaction for which the plaintiff makes claim…