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sales

Defined in 1 dictionary — Case Law

Definitions from Case Law

From 311 U.S. 504 - Helvering v. Hammel · 1941Most cited · 595 citing opinions

the 'sales' referred to in the statute include forced sales such as have sufficed, under long accepted income tax practice, to establish a deductible loss in the case of non-capital assets. Such sales can equally be taken to establish the loss in the case of capital assets without infringing the declared policy of the statute to treat capital gains and losses on a parity.