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NEW YORK SUN v. COMMISSIONER OF INTERNAL REVENUE

No. 267, Docket 24755.

253 F.2d 487 (1958)

The NEW YORK SUN, Inc., Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Second Circuit.

Decided March 19, 1958.

Attorney(s) appearing for the Case

A. Harding Paul, Washington, D. C. (Donald C. Hays, and Walter S. Long, Jr., New York City, on the brief), for petitioner.

Morton K. Rothschild, Atty., Dept. of Justice, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., and Lee A. Jackson and Harry Baum, Attys., Dept. of Justice, Washington, D. C., on the brief), for respondent.

Before LUMBARD, WATERMAN and MOORE, Circuit Judges.

PER CURIAM.

The question for decision is whether the taxpayer sustained in the year 1945 a deductible loss, under § 23(f) of the Internal Revenue Code of 1939, 26 U.S. C.A. § 23(f), of $650,000, the entire claimed value of its membership in the Associated Press, by reason of the decision of the Supreme Court rendered on June 18, 1945, Associated Press v. United States, 326 U.S. 1, 65 S.Ct. 1416, 89 L.Ed. 2013, and the resulting...

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