Colish v. Commissioner
United States Tax Court
Held, no claim for reimbursement with respect to which there was a reasonable prospect of recovery existed at the time petitioners' property was nationalized by Communist Czechoslovakia, even though petitioner then knew of Czechoslovakian assets in this country, consequently he may not deduct his loss in a later year when his claim was partially satisfied out of the Czecholovakian Claims Fund.
1Opinion of the Court
Harry J. Colish and Ruth B. Colish, Petitioners v. Commissioner of Internal Revenue, Respondent
Colish v. Commissioner
Docket No. 892-65
United States Tax Court
48 T.C. 711; 1967 U.S. Tax Ct. LEXIS 52;
August 18, 1967, Filed
Decision will be entered for the respondent.
Held, no claim for reimbursement with respect to which there was a reasonable prospect of recovery existed at the time petitioners' property was nationalized by Communist Czechoslovakia, even though petitioner then knew of Czechoslovakian assets in this country, consequently he may not deduct his loss in a later year when his claim…
2Cases cited6 opinions
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Elek v. CommissionerUnited States Tax Court · 1958
- Colish v. CommissionerUnited States Tax Court · 1967
- Wyman v. United StatesUnited States Court of Claims · 1958
- Paul H. Schweitzer and Friedel Schweitzer v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1967
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