OTLEY v. COMMISSIONER

Docket No. 33943.

13 T.C.M. 796 (1954)

T. C. Memo. 1954-126

Jesse D. Otley v. Commissioner.

United States Tax Court.

Filed August 16, 1954.


Attorney(s) appearing for the Case

Thomas A. Galbally, Esq., 2035 Land Title Building, Philadelphia, Pa., for the petitioner. Edward Pesin, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

BAAR, Judge:

The respondent determined deficiencies in the income tax of the petitioner for the years 1946 and 1947 in the respective amounts of $1,149.60 and $655.51.

The sole issue presented for our decision is whether the petitioner sustained a deductible loss on the sale of certain shares of the common and preferred stock of Philadelphia Memorial Park on July 12, 1946.

Findings of Fact

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