C. A. Sporl & Co. v. Commissioner
United States Board of Tax Appeals
The petitioner in December 1933 sold at a loss bonds which it had received in February 1932 under a binding agreement entered into in October 1931. Held, that the loss was sustained from the sale of assets held more than two years, and that the deduction of the loss is not subject to the limitation of section 23(r) of the Revenue Act of 1932.
1Opinion of the Court
C. A. SPORL & COMPANY, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
C. A. Sporl & Co. v. Commissioner
Docket No. 90354.
United States Board of Tax Appeals
40 B.T.A. 829; 1939 BTA LEXIS 792;
October 31, 1939, Promulgated
The petitioner in December 1933 sold at a loss bonds which it had received in February 1932 under a binding agreement entered into in October 1931. Held, that the loss was sustained from the sale of assets held more than two years, and that the deduction of the loss is not subject to the limitation of section 23(r) of the Revenue Act of 1932.
Arthur A. Moreno,…
2Cases cited1 opinion
- C. A. Sporl & Co. v. CommissionerUnited States Board of Tax Appeals · 1939