New York Sun, Inc. v. Commissioner

Second Circuit

New York Sun, Inc. v. Commissioner

253 F.2d 487

CourtCourt of Appeals for the Second Circuit

DecidedMarch 19, 1958

DocketNo. 267, Docket 24755

StatusPublished

Cited by1 cases

This text of 253 F.2d 487 (New York Sun, Inc. v. Commissioner) is published on Counsel Stack Legal Research, covering Court of Appeals for the Second Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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New York Sun, Inc. v. Commissioner, 253 F.2d 487 (2d Cir. 1958).

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Opinion

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 amendment of the by-laws of the Associated Press on November 18, 1945 to eliminate discriminatory provisions to open membership to all, even though the taxpayer continued the use of its membership.

This precise issue has been decided adversely to the taxpayer by the Tenth Circuit in Reporter Pub. Co. v. Commissioner, 1953, 201 F.2d 743, certiorari denied, 1953, 345 U.S. 993, 73 S.Ct. 1133, 97 L.Ed. 1401, and we affirm for the reasons therein stated.

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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 amendment of the by-laws of the Associated Press on November 18, 1945 to eliminate discriminatory provisions to open membership to all, even though the taxpayer continued the use of its membership.

This precise issue has been decided adversely to the taxpayer by the Tenth Circuit in Reporter Pub. Co. v. Commissioner, 1953, 201 F.2d 743, certiorari denied, 1953, 345 U.S. 993, 73 S.Ct. 1133, 97 L.Ed. 1401, and we affirm for the reasons therein stated.

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253 F.2d 487, Counsel Stack Legal Research, https://law.counselstack.com/opinion/new-york-sun-inc-v-commissioner-ca2-1958.

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