Legal Opinion
Scherman v. Helvering
Court of Appeals for the Second Circuit
Decided January 14, 1935No. 96PublishedCited by 12 opinions
1Opinion of the Court
L. HAND, Circuit Judge.
The question in this case is whether Scherman, the taxpayer, shall be allowed to deduct a loss from his income tax for the year 1929, arising from the following facts: He was the originator of a scheme for selling books, known as The Book of the Month Club; it was incorporated and four hundred shares of common stock were issued of which he got one hundred and eighty-nine and his wife, one; Haas, and Haas’s wife, owned the rest. He and Haas, finding. themselves at odds about the management of the company, agreed that it would be desirable to bring in another person, and…
2Cases cited2 opinions
- Helvering v. WalbridgeCourt of Appeals for the Second Circuit · 1934
- Houghton v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1934
3Cited by12 opinions
- Downer v. CommissionerUnited States Tax Court · 1967
- Frantz v. CommissionerUnited States Tax Court · 1984
- Leroy Frantz, Jr. And Sheila Frantz v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1986
- Kress v. StantonDistrict Court, W.D. Pennsylvania · 1951
- Berner v. United StatesUnited States Court of Claims · 1960
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