Niles v. Milbourne

WILLIAM C. COLEMAN, District Judge.

This is a suit for the refund of income taxes. The material facts, briefly summarized, appear to be that in the month of December, 1932, the taxpayer caused to be sold, through local brokers, certain securities, at ■ a price which resulted in a substantial loss as compared with the price which he had paid for these same securities in prior years. At the same time that the sale of these securities was consummated through the brokers, the taxpayer’s wife bought, through the same brokers, securities of like kind and amount, with the result that the two…