Case Name: Appeal of S. A. HINELY
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-10-27
Citations: 2 B.T.A. 1027
Docket Number: Docket No. 3252
Parties: Appeal of S. A. HINELY.
Judges: Before James, Littleton, Smith, and Teussell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 2
Pages: 1027–1028

Head Matter:
Appeal of S. A. HINELY.
Docket No. 3252.
Submitted July 8, 1925.
Decided October 27, 1925.
Oscar O. McColkum and Charles Coole Howell, Esqs., for the taxpayer.
C. Lake, Esq., for the Commissioner.
Before James, Littleton, Smith, and Teussell.

Opinion:
OPINION.
James:
The taxpayer claims in respect of both transactions set forth above that they were completed, one in 1916 and the other in 1917, and that no profit was realized by the taxpayer in the year 1918 upon either. It does not appear whether the taxpayer returned any profit upon these transactions in the years in which they actually occurred, but in the present proceeding this is not material. The position of the taxpayer that the transactions were closed and the profits realized in 1916 and 1917 is correct and the deficiency determined by the Commissioner must be disallowed.