Stern v. Carey

JONES, Chief Judge.

Plaintiff seeks to recover income and victory taxes paid to the defendant Collector of Internal Revenue for the calendar year 1943. He claims a deduction from his gross income under Section 23(e) (3) of the Internal Revenue Code, 26 U.S.C.A. That Section allows a deduction in the case of an individual for loss sustained during the taxable year of property not connected with a trade or business, if the loss arises from fire, storm, shipwreck, or other casualty * * * and is not compensated for by insurance or otherwise.

The taxpayer was involved in a collision in 1933 while…