Opinion · United States Board of Tax Appeals
Paine v. Commissioner
Paine v. Comm’r, 37 B.T.A. 427 (B.T.A. 1938)
- Type
- Opinion
- Court
- United States Board of Tax Appeals
- Jurisdiction
- Federal
- Date
- 1938-02-25
- Topic
- general
Murdock, concurring: I think that Paine entered into the transaction for profit. The profit which he expected was to come from enhanced reputation in his business as a naval architect rather than from dividends or increased value of the stock. However, the record does not show that loss resulted from the expenditure, viewed as that kind of a transaction.
Citator
UpLaw has not yet analyzed Paine v. Commissioner. The absence of a flag is not a finding that it is good law.
- Authority status
- pending
concurring: I think that Paine entered into the transaction for profit. The profit which he expected was to come from enhanced reputation in his business as a naval architect rather than from dividends or increased value of the stock. However, the record does not show that loss resulted from the expenditure, viewed as that kind of a transaction.