Rathborne v. Collector of Revenue

HIGGINS, Justice.

The State Collector of Revenue ruled that there was a deficiency of $966.56 in the plaintiff’s income tax for the year 1934, as a result of erroneously deducting losses sustained in the sale of “capital assets.” By virtue of the provisions of Section 83 of Act 21 of the Legislature of 1934, the plaintiff appealed to the State Board of Tax Appeals, which approved the Collector’s ruling that losses sustained in the sale of “capital assets” could only be deducted to the extent of capital gains.

Under Section 80 of the above act, the taxpayer appealed to 'the Nineteenth Ju dicial…