Peters v. United States

LITTLETON, Judge.

The losses sustained by plaintiffs, as shown by the facts, have not been allowed as deductions for any year. When plaintiffs made their returns for 1930, they did not claim the losses as deductions but soon thereafter they filed claims for refund in which such deductions were claimed. These refund claims were rejected, and the defendant here contends that such losses as *148were sustained were deductible in 1931 rather than in 1930. Any refund for 1931 is barred by the statute of limitation.

Under the facts in this case, we are of opinion that the claimed losses were sustained and…