People ex rel. Keim v. Wendell
Appellate Division of the Supreme Court of the State of New York
Certiorari issued out of the Supreme Court and attested on the 8th day of April, 1921, directed to James A. Wendell, as Comptroller of the State of New York, commanding him to certify and return to the office of the clerk of the county of Albany all and singular his proceedings had relating to his adjustment of an account for income taxes for the taxable year 1919 against the relator, under article 16 of the Tax Law, and in revising said account.
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Certiorari issued out of the Supreme Court and attested on the 8th day of April, 1921, directed to James A. Wendell, as Comptroller of the State of New York, commanding him to certify and return to the office of the clerk of the county of Albany all and singular his proceedings had relating to his adjustment of an account for income taxes for the taxable year 1919 against the relator, under article 16 of the Tax Law, and in revising said account. The relator had three stock transactions; the first and second were short sales of securities made in 1918 and “ covered ” in 1919; the third was a…
1Opinion of the Court
Van Kirk, J.:
No question arises as to the third transaction involving the purchase of securities before January 1, 1919, and a sale of those *390securities during 1919. It is conceded that the decision in People ex rel. Klauber v. Wendell (196 App. Div. 827; affd., 232 N. Y. 549) controls. But it is claimed that a different rule must be applied as to the first and second transactions, involving a short sale of securities prior to January 1,1919, and the covering of the short sale during 1919. The relator claims that he should be allowed to deduct the entire loss sustained in the transaction,…
2Cases cited3 opinions
- Goodrich v. EdwardsSupreme Court of the United States · 1921
- People ex rel. Klauber v. WendellAppellate Division of the Supreme Court of the State of New York · 1921
- People Ex Rel. Klauber v. . WendellNew York Court of Appeals · 1921
3Cited by6 opinions
- United States v. FlannerySupreme Court of the United States · 1925
- McCaughn v. LudingtonSupreme Court of the United States · 1925
- Falk v. Wisconsin Tax CommissionWisconsin Supreme Court · 1930
- State v. FlennerSupreme Court of Alabama · 1938
- Hudson v. Oklahoma Tax CommissionSupreme Court of Oklahoma · 1934
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