Girard Trust Corn Exchange Bank v. United States

CLARY, Chief Judge.

This matter is presently before the Court on plaintiff’s and defendant’s cross-motions for summary judgment. Plaintiff seeks to recover a claimed overpayment of Federal Income Tax in the amount of $9,494.02 resulting from the disallowance of a loss which plaintiff suffered in 1952 upon the sale of certain shares of its own stock.

The facts, to which both parties to this action have agreed, and all the facts necessary for decision here, are as follows : Girard Trust Corn Exchange Bank is a banking corporation organized and existing under the laws of the Commonwealth of…