Murray Hospital v. Rasmussen

(after stating the facts as above). The right of the plaintiff in error to deduct from its gross income losses sustained during the taxable year, not compensated for by insurance or otherwise, is apparently not controverted, so that we are only concerned with the single question, whether the amended complaint shows any such losses. It is there directly averred that the plaintiff in error paid Murray within the taxable year the sum of $100,000, that $42,-800 of this amount was paid for stock held by Murray in the corporation, and that the balance was paid by way of settlement and compromise of…