ELLIS

v.

UNITED STATES

Citator

Cited By

• Knetsch v. The United States, 348 F.2d 932 (Ct. Cl. 1965)
  …turn. The government points out that we have required that “[a] loss, in order to be deductible under the statute, must be an unintentional parting with something of value.” Dresser v. United States, 55 F. 2d 499, 510, 74 Ct.Cl. 55, 77, cert. denied 287 U.S. 635, 53 S.Ct. 85, 77 L.Ed. 550 (1932). From this it argues that when taxpayers made their payments they knew that the payments would be less than their receipts. • In other words, the alleged interest payments would be more than the amount that they cou…
• FOX v. Commissioner of Internal Revenue, 190 F.2d 101 (2d Cir. 1951)
  …sake, as designing a racing yacht, Paine v. C. I. R., 1 Cir., 102 F. 2d 110, or where “under all the circumstances” known to the taxpayer at the time it is a “hopeless venture,” Dresser v. United States, Ct.Cl., 55 F. 2d 499, 510, certiorari denied 287 U.S. 635, 53 S.Ct. 85, 77 L.Ed. 550. No comparable intent is properly deducible from the salvag [*105] ing operation which this taxpayer contemplated. We agree further with the dissenting judge below, who held that the payment cannot be translated into a de…
• Morton v. Commissioner of Internal Revenue, 112 F.2d 320 (7th Cir. 1940)
  …ctical, not a legal, test.” Lucas v. American Code Co., 280 U.S. 445, 449, 50 S.Ct. 202, 203, 74 L.Ed. 538, 67 A.L.R. 1010. We approve as applicable in our case what has been said in Dresser v. United States, Ct.Cl., 55 F. 2d 499, certiorari denied 287 U.S. 635, 53 S.Ct. 85, 77 L.Ed. 550. In that case the court said, 55 F. 2d at page 512: “Losses are sustained within the meaning of the taxing act when the events definitely occur which give rise thereto. * * * The statute allows the deduction of a loss when…