Reed's Estate v. Scofield, Collector of Internal Revenue
This text of 186 F.2d 133 (Reed's Estate v. Scofield, Collector of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
The sole question in this case involves the correctness of the finding of the trial Court, against the contention of the taxpayer suing for a refund, that such plaintiff had failed to show that an oil and mineral lease became finally worthless in the year 1941. The establishment of loss in such year was essential to the plaintiff’s claim for recovery since the deduction therefor was claimed for the year 1941. The Commissioner had allowed the claim for the year 1940 but had disallowed it as accruing from a loss sustained during 1941. Upon consideration of the facts and circumstances in the case, we conclude that the finding of the trial Judge is supported by the evidence. Cf. Mine Hill & Schuylkill Haven R. Co. v. Smith, 3 Cir., 184 F.2d 422.
The judgment appealed from is Affirmed.
Free access — add to your briefcase to read the full text and ask questions with AI
Related
Cite This Page — Counsel Stack
186 F.2d 133, 40 A.F.T.R. (P-H) 44, 1951 U.S. App. LEXIS 3804, Counsel Stack Legal Research, https://law.counselstack.com/opinion/reeds-estate-v-scofield-collector-of-internal-revenue-ca5-1951.