Legal Opinion
Commissioner of Int. Rev. v. ELECTRO-CHEMICAL E. CO.
Court of Appeals for the Second Circuit
Decided June 3, 1940No. 221PublishedCited by 12 opinions
1Opinion of the Court
AUGUSTUS N. HAND, Circuit Judge.
The question before us is whether a loss sustained by the taxpayer Electro-Chemical Engraving Co., Inc., through a sale of its factory by foreclosure should be limited to $2,000 by reason of Section 117 (d) of the Revenue Act of 1934, 26 U.S.C.A. Int.Rev. Acts, instead of being deductible to the extent of the excess of the adjusted basis over the amount realized, as provided in Sec. Ill (a), 26 U.S.C.A. Int.Rev.Acts.
The Board of Tax Appeals determined that the taxpayer was entitled to deduct the actual loss realized and that after such deduction there was no…
2Cases cited5 opinions
- Bingham v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1939
- Rogers v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1939
- Moulton v. . CornishNew York Court of Appeals · 1893
- Commissioner of Internal Revenue v. FreihoferCourt of Appeals for the Third Circuit · 1939
- Commissioner of Internal Revenue v. HammelCourt of Appeals for the Sixth Circuit · 1940
3Cited by12 opinions
- Helvering v. HammelSupreme Court of the United States · 1941
- Electro-Chemical Engraving Co. v. CommissionerSupreme Court of the United States · 1941
- Freeland v. CommissionerUnited States Tax Court · 1980
- Helvering v. Nebraska Bridge Supply & Lumber Co.Court of Appeals for the Eighth Circuit · 1940
- Commissioner of Internal Revenue v. SpreckelsCourt of Appeals for the Ninth Circuit · 1941
7 more not listed; retrieve them via the Exa API.