U.S. Court of Appeals for the Third Circuit, 1946

Makransky's Estate v. COMMISSIONER OF INTERNAL REVENUE

U.S. Court of Appeals for the Third Circuit · Decided February 25, 1946 · Maris, Goodrich, and O'connell, Circuit Judges

154 F.2d 59 (Federal Reporter, Second Series)

Counsel

Morris Wolf, of Philadelphia, Pa., (Samuel H. Levy, and Wolf, Block, Schorr & Solis-Cohen, all of Philadelphia, Pa., on the brief), for petitioners., Carlton Fox, of Washington, D. C. (Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and A. F. Prescott, Sp. Assts. to Atty. Gen., on the brief), for respondent.

Cases that cite this one

2 later published cases cite this decision.

Corn Products Refining Co. v. Commissioner (Supreme Court of the United States 1956)
Grant v. Kellogg Co. (2d Cir. 1946)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion

PER CURIAM.

In these cases the taxpayers ask this court to review the finding of the Tax Court that a loss which they incurred in the sale of contracts for the future delivery of wool was a loss upon the sale of capital assets and not an ordinary and necessary expense of their business deductible under Section 23(a) of the Internal Revenue Code, 26 U.S.C.A. Int.Rev.Code, § 23(a), or a loss deductible under Section 23(e). We think that this is a finding which this court is not at liberty to review. Dobson v. Commissioner, 1943, 320 U.S. 489, 64 S.Ct. 239, 88 L.Ed. 248; John Kelley Co. v. Commissioner, 1946, 66 S.Ct. 299.

The decision of the Tax Court is affirmed.

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