Walville Lumber Co. v. Commissioner of Internal Revenue

DIETRICH, Circuit Judge.

By the Commissioner of Internal Revenue it was held that appellant’s income and profits taxes for 1919 were deficient in the sum of $7,-514.86. Unsuccessfully the taxpayer sought relief from the Board of Tax Appeals, and from the order dismissing its petition it prosecutes this appeal. See section 1001 of the Revenue Act of 1926 (26 USCA § 1224).

The claimed deficiency is attributable to the refusal of the Commissioner to allow appellant a loss alleged to have been suffered by it on 4,400. shares of the stoek it held in the Wallworth & Neville Manufacturing Company,…