COMMISSIONER OF INTERNAL REVENUE
v.
HAWKINS ET AL.

5th Cir. | 1937-07-16
No. 8397
Before FOSTER, HUTCHESON, and HOLMES, Circuit Judges.
91 F.2d 354 Court of Appeals for the Fifth Circuit (1937) Caution
Cited by 10 cases

Opinion of the Court
FOSTER, Circuit Judge.

FOSTER, Circuit Judge.

This case presents merely a question of whether petitioners were entitled to take a deduction on their returns from 1932 for a loss occasioned by the foreclosure of a mortgage and consequent sale of a large tract of land in California in 1931. The facts are not in dispute. The Board in a well-considered opinion, reported in 34 B. T.A. 918, carefully reviewed the law and held that the loss did not occur until the end of the redemption period in 1932.

We concur in the ruling of the Board. The petition is denied and the judgment of the Board is affirmed.


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