SUPERIOR COAL CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 8600.

145 F.2d 597 (1944)

SUPERIOR COAL CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

December 7, 1944.


Attorney(s) appearing for the Case

Nelson J. Wilcox and Nelson Trottman, both of Chicago, Ill. (W. T. Faricy, of Chicago, Ill., of counsel), for petitioner.

Samuel O. Clark, Jr., Sewall Key, I. Henry Kutz, A. F. Prescott, and Harold C. Wilkenfeld, Asst. Attys. Gen., and J. P. Wenchel and Rollin H. Transue, Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before SPARKS, MAJOR, and KERNER, Circuit Judges.


MAJOR, Circuit Judge.

The Tax Court upheld respondent's action in denying to petitioner a claimed deduction for alleged loss sustained during the tax year of 1939. From this decision of the Tax Court, petitioner seeks a review.

The question for decision is whether the Tax Court correctly determined that certain coal rights of petitioner had become worthless prior to the tax year 1939, in which the loss on such rights was claimed.

The parties differ...

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