Murray Hospital v. Rasmussen

RUDKIN, Circuit Judge.

As will appear from the opinion on a former appeal, the principal question in this case is whether the entire sum of $100,000, there mentioned, was paid on account of the purchase price of capital stock of the corporation, or whether $57,-200 of that amount was an ordinary and necessary expense, paid and incurred during the taxable year in carrying on the trade and business of the corporation, or was a loss sustained by the corporation during the taxable year, not compensated for by insurance or otherwise. We there held that the complaint was sufficient in form and…