Case Name: A. H. Van Hook, Petitioner, v. Commissioner of Internal Revenue, Respondent; Mrs. A. H. Van Hook, Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-09-15
Citations: 8 B.T.A. 68
Docket Number: Docket Nos. 9358, 9359
Parties: A. H. Van Hook, Petitioner, v. Commissioner of Internal Revenue, Respondent. Mrs. A. H. Van Hook, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: Considered by Sternhagen and Artjndell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 8
Pages: 68–70

Head Matter:
A. H. Van Hook, Petitioner, v. Commissioner of Internal Revenue, Respondent. Mrs. A. H. Van Hook, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket Nos. 9358, 9359.
Promulgated September 15, 1927.
Walter E. Barton, Esq., for the petitioners.
A. II. Fast, Esq., and J'ulien G. Gibbs, Esq., for the respondent.

Opinion:
OPINION.
Lansdon:
The evidence is conclusive that the petitioner, Van Hook, purchased no stock from A. C. Steere Co., Inc.; that $25,000 was the purchase price of the stock which he acquired from A. C. Steere, and that he received no fee or compensation of any sort from A. C. Steere Co., Inc., in connection with the purchase of the Upper Harts Island Plantation, in which transaction he acted only for the Yourees. On this point the determination of the respondent is reversed.
At the hearing counsel for the petitioners waived their second contention and, therefore, the determination of the respondent that no loss was sustained by the petitioners on account of shrinkage in value in the taxable year of certain stocks is approved. No evidence was offered as to the deficiency for 1922, and the determination of the respondent for that year is approved.
Judgment will be entered on 15 days' notice, u/nder Rule 50.
Considered by Sternhagen and Artjndell.