Keefer v. Commissioner
United States Tax Court
Held, sec. 1.165-7(b)(2)(i), Income Tax Regs., relating to the computation of casualty losses incurred in a trade or business or in a transaction entered into for profit, is valid. Held, further, respondent's computation of casualty loss sustained.
1Opinion of the Court
Ray F. and Betty B. Keefer, Petitioners v. Commissioner of Internal Revenue, Respondent
Keefer v. Commissioner
Docket No. 4099-72
United States Tax Court
63 T.C. 596; 1975 U.S. Tax Ct. LEXIS 185;
March 11, 1975, Filed
Decision will be entered under Rule 155.
Held, sec. 1.165-7(b)(2)(i), Income Tax Regs., relating to the computation of casualty losses incurred in a trade or business or in a transaction entered into for profit, is valid. Held, further, respondent's computation of casualty loss sustained.
Alexander F. Eagle, for the petitioners.
David L. Gibson and Nicholas G. Stucky, for the respondent.
I…
2Cases cited8 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Helvering v. OwensSupreme Court of the United States · 1939
- United States v. KoshlandCourt of Appeals for the Ninth Circuit · 1954
- Alcoma Association, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1956
- Fred and Irene Rosenthal v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1969
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