BREWSTER, District Judge.
This action is brought to recover income tax paid upon income for 1935, which the plaintiff alleges was unlawfully exacted.
Section 23 (e) (3) of the Revenue Act of 1934 provides in part as follows:
"In computing net income there shall be allowed as deductions:
* * * * *
"(e) Losses by individuals. In the case of an individual, losses sustained during the taxable year and not compensated for by insurance...
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