Legal Opinion
Miami Beach Bay Shore Co. v. Commissioner
Court of Appeals for the Fifth Circuit
Decided June 23, 1943No. 10644PublishedCited by 19 opinions
1Opinion of the Court
HUTCHESON, Circuit Judge.
Disallowing a deduction of $50,012 claimed by taxpayer in its fiscal year ending August 31, 1937, as a loss on stock in Peninsula Terminal Corporation becoming worthless in that year, the commissioner determined, and the Board of Tax Appeals (now Tax Court) affirmed, a deficiency in excess profits and income taxes for that year of $10,052.41. The commissioner disallowed the loss on the grounds that the stock had become worthless in the prior year, and also that taxpayer had not established its basis in the stock. The Board, passing the second ground without decision,…
2Cases cited9 opinions
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Morton v. CommissionerUnited States Board of Tax Appeals · 1938
- Morton v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1940
- Deeds v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1931
- Dunbar v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1941
4 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Joyce v. GentschCourt of Appeals for the Sixth Circuit · 1944
- Reading & Bates Corp. v. United StatesUnited States Court of Federal Claims · 1998
- H. H. Bodzy and Marjorie Bodzy v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
- A. S. Genecov and Wife, Hilda Genecov v. United StatesCourt of Appeals for the Fifth Circuit · 1969
- 875 Park Avenue Co. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1954
14 more not listed; retrieve them via the Exa API.