(Download) "Smith v. Higgins" by United States Court of Appeals for the Second Circuit " Book PDF Kindle ePub Free
eBook details
- Title: Smith v. Higgins
- Author : United States Court of Appeals for the Second Circuit
- Release Date : January 06, 1939
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 51 KB
Description
The plaintiff filed his income tax return for 1932 with the Collector of Internal Revenue for the Third District of New York and therein claimed a deduction for a loss sustained on the sale of securities to Innisfail Corporation on December 29, 1932. He also claimed a deduction for a loss sustained on the sale of certain securities to his wife on the same date. Both deductions were disallowed; a deficiency in income taxes for 1932, based on the disallowances, was determined; and a fraud penalty was assessed. The plaintiff paid the amount of the deficiency, penalty and interest to the defendant collector. He then duly filed a claim for refund and, upon the failure of the Commissioner to act upon the claim within six months, brought this suit to recover the amount so paid.
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