Case ID: f2d_133/html/0203-02.html
Source: Caselaw Access Project
Author: {"author": "PER CURIAM.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Albion D. T. LIBBY, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.
    No. 8217.
    Circuit Court of Appeals, Third Circuit.
    Argued Feb. 4, 1943.
    Decided Feb. 8, 1943.
    Rehearing Denied March 17, 1943.
    A. D. T. Libby, of Newark, N. J., for petitioner.
    Arthur 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.
    Before BIGGS, MARIS, and JONES, Circuit Judges.
   PER CURIAM.

The 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.