Legal Opinion
Horst v. United States
United States Court of Claims
Decided May 15, 1964No. Nos. 300-61, 117-62PublishedCited by 2 opinions
1Opinion of the Court
DAVIS, Judge.
These companion income tax cases call upon us to construe and apply the war loss provisions of the 1939 and 1954 Internal Revenue Codes.1 Under Section 127 of the 1939 Code (carried over into Sections 1331-1336 of the 1954 Code), property owned by Americans in enemy countries (including interests in such property represented by securities) was deemed to be destroyed or lost upon the declaration of war — without regard to the possible return of the property, or an award of compensation, at the war’s end. The taxpayer could immediately take a war loss deduction for such enemy-held…
2Cases cited14 opinions
- Commissioner v. HansenSupreme Court of the United States · 1959
- Simon Jaglom and Marie Jaglom v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- Kenmore v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1953
- Clyde C. Pierce Corp. v. Commissioner of Internal Rev.Court of Appeals for the Fifth Circuit · 1941
- National City Lines, Inc. v. United StatesCourt of Appeals for the Third Circuit · 1952
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3Cited by2 opinions
- Ginsburg v. United StatesCourt of Appeals for the Federal Circuit · 2019
- Robert P. K. Horst and Harry H. Wiggins, as Executors of the Last Will and Testament of Paul R. G. Horst, and Robert P. K. Horst, as of the Last Will and Testament of Anna C. Horst v. The United States. Robert P. K. Horst and Harry H. Wiggins, as Executors of the Last Will and Testament of Paul R. G. Horst v. The United StatesUnited States Court of Claims · 1964