Ashton v. Commissioner

*890OPINION.

Black :

Petitioner, in support of his contention that the loss which he suffered in 1934 by reason of his withdrawal as a shareholder of the Business Men’s Building & Loan Association was an ordinary loss *891and not a capital loss, cites Hale v. Helvering, 85 Fed. (2d) 819; John H. Watson, Jr., 27 B. T. A. 463; George A. Hellman, 33 B. T. A. 901. Those cases would undoubtedly sustain petitioner in his claim if his status when he withdrew from the Building & Loan Association had been that of a creditor.

To the aboye cited cases might be added the recent Supreme Court decision in Fairbanks…