Libby v. Commissioner

Third Circuit Court of Appeals

Argued Feb. 4, 1943.

Decided Feb. 8, 1943.

Rehearing Denied March 17, 1943.

Third Circuit Court of Appeals · decided 1943-02-08

2 counsel of record

Opinion by (per_curiam) · Decided 1943-02-08

¶1A. D. T. Libby, of Newark, N. J., for petitioner.

¶2Arthur Manella, of Washington, D. C. (Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and Samuel H. Levy, Sp. Assts. to Atty. Gen., on the brief), for respondent.

¶3Before BIGGS, MARIS, and JONES, Circuit Judges.

¶4PER CURIAM.

¶5The finding of the Board of Tax Appeals (now the Tax Court of the United States) that the stock in question became worthless prior to the taxable year for which the petitioner claimed its cost as a deduction is amply supported by the evidence. The decision of the Board is therefore affirmed.