United States Board of Tax Appeals June 25, 1929, Docket No. 15882 (Robert G. Lassiter & Co. v. Commissioner)

*1156OPINION.

SiefKin:

The respondent has disallowed the deduction of the loss in question on two grounds — first, that the loss was the loss of B. G. Lassiter, an individual, rather than the loss of the petitioner, and, second, upon the ground that the loss was not sustained in the taxable year in question.

As to the first reason, we are satisfied that the respondent was clearly in error.