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McCARTHY v. COMMISSIONER

Docket No. 109882.

2 T.C.M. 146 (1943)

Emmett J. McCarthy v. Commissioner.

United States Tax Court.

Entered May 22, 1943.

Attorney(s) appearing for the Case

John D. Clancy, Jr., Esq., for the petitioner. Gerald W. Brooks, Esq., and Clifford P. Hicock, Esq., for the respondent.

Memorandum Opinion

TURNER, Judge:

The respondent determined deficiencies in the petitioner's income tax for 1939 and 1940 in the respective amounts of $5,603.01 and $390.59. The issues presented by the pleadings are the correctness of the respondent's action (1) in not allowing a deduction of $20,260.14 in 1939 as a loss sustained on the voluntary demolition of a building on certain bank property; (2) in not allowing as deductions in 1939 the amount of ...

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