Court Opinion

ID: 9451541
Source: CourtListenerOpinion
Date Created: 2023-08-04 17:19:24.680673+00
Date Added: 2024-06-11T17:32:47.605161
License: Public Domain

On Petition for Rehearing
PER CURIAM.
In his petition for rehearing, taxpayer asserts that the facts of Whipple v. Commissioner of Internal Revenue 1963, 373 U.S. 193, 83 S.Ct. 118, 10 L.Ed.2d 288 make that case clearly distinguishable from the case at bar. If our opinion gave the impression that we thought the facts were on all fours, we do not so believe. We thought Whipple to be controlling because of its clear implication that when a taxpayer’s loss-producing activities are at least equally consistent with his being an investor as with his being in the business of promoting, financing or managing the enterprises in question, he has not met his burden. In the case at bar taxpayer’s other activities, introduced as background evidence, are not relevant, for they cut neither one way nor the other so far as the particular losses in issue are concerned. We can find no substantial affirmative evidence that these were suffered other than as an investor within the Whipple definition.
Petition denied.