Crane v. Commissioner
United States Board of Tax Appeals
Losses sustained by petitioner in the year 1921 on a loan and sales of stock, were incurred in a business regularly carried on by him and may be used in computing a net loss under section 204 of the Revenue Act of 1921.
1Opinion of the Court
T. I. CRANE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Crane v. Commissioner
Docket No. 27769.
United States Board of Tax Appeals
17 B.T.A. 720; 1929 BTA LEXIS 2251;
September 30, 1929, Promulgated
Losses sustained by petitioner in the year 1921 on a loan and sales of stock, were incurred in a business regularly carried on by him and may be used in computing a net loss under section 204 of the Revenue Act of 1921.
Laurence Graves, Esq., for the petitioner.
Hartford Allen, Esq., for the respondent.
ARUNDELL
Proceeding for the redetermination of a deficiency of $7,949.74 in income tax…
2Cases cited1 opinion
- Crane v. CommissionerUnited States Board of Tax Appeals · 1929