Gutwirth v. Commissioner
United States Tax Court
1. Held: Petitioners are entitled to deduction for loss in respect of factory property in Belgium arising out of damage from German V-bombs. Although the property had previously been seized or deemed seized by the enemy, there was a recovery in 1944, and the bomb damage occurred thereafter.
Read the full summary
1. Held: Petitioners are entitled to deduction for loss in respect of factory property in Belgium arising out of damage from German V-bombs. Although the property had previously been seized or deemed seized by the enemy, there was a recovery in 1944, and the bomb damage occurred thereafter. Adjusted basis of the property and amount of damage determined. 2. Held: Residence of petitioner in Belgium was recovered in January 1946, with consequence that he was entitled to deduction for losses arising out of theft or vandalism or both in respect of the property occurring thereafter. Amount of such…
1Opinion of the Court
OPINION
Baum, Judge:
1. The Avenue du Margrave property. — Petitioners’ principal contention is that a war loss occurred under section 127 (a) (1) of the 1939 Code2 with respect to the Avenue du Margrave property in February or March 1945 by reason of enemy bombs, that such loss was within the partnership’s fiscal year ending January 31, 1946, and was therefore deductible by petitioners on their 1946 calendar year returns. The amount of the alleged loss is also sharply in dispute.
In setting tbe stage for their principal contention petitioners argue first that the property was lost in 1941 under…
2Cases cited12 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Abraham v. CommissionerUnited States Tax Court · 1947
- Solt v. CommissionerUnited States Tax Court · 1952
- Adler v. CommissionerUnited States Tax Court · 1947
- Heckett v. CommissionerUnited States Tax Court · 1947
7 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Ribas v. CommissionerUnited States Tax Court · 1970
- Rovakat, LLC v. Comm'rUnited States Tax Court · 2011
- STATE DEPT. OF REVENUE v. RobertsonCourt of Civil Appeals of Alabama · 1998
- Ahadpour v. CommissionerCourt of Appeals for the Ninth Circuit · 2002
- Gutwirth v. CommissionerUnited States Tax Court · 1963
3 more not listed; retrieve them via the Exa API.