# Schiller Piano Co. v. Commissioner > United States Board of Tax Appeals · May 21, 1931 · 23 B.T.A. 376 URL: https://www.frixlaw.com/law-library/cases/4491958 ## Case - **Full name:** SCHILLER PIANO COMPANY, v. COMMISSIONER OF INTERNAL REVENUE - **Court:** United States Board of Tax Appeals - **Decided:** May 21, 1931 - **Citations:** 23 B.T.A. 376; 1931 BTA LEXIS 1885 - **Precedential status:** Published - **Opinion:** Opinion of the court by Love - **Judges:** Love, Arundell - **Cited by:** 1 later opinions in the Frix Law Library ## Citator (automated) - No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases. - Full citator and citing cases: https://www.frixlaw.com/law-library/cases/4491958 ## Opinion text *378 OPINION. Love : Petitioner asserts that it sustained a. deductible loss in the amount of $32,907.24 upon the transaction set out in our findings. The respondent has denied the deduction upon the theory that a corporation can realize neither gain nor loss in the purchase of its own capital stock. As authority for its contention, petitioner cites Callanan Road Improvement Co., 12 B. T. A. 1109; Behlow Estate Co., 12 B. T. A. 1365; New Jersey Porcelain Co., 15 B. T. A. 1059; and United States v. Cedarburg Milk Co., 288 Fed. 996 . In Houston Brothers Co., 21 B. T. A. 804, we distinguished the Callanan and Cedarbu/rg cases, supra, and expressly disapproved our decisions in the Behlow Estate Go. and New Jersey Porcelain Co. cases, supra. We think the instant case is governed by Houston Brothers Co ' ., supra, and upon authority of that case, petitioner must fail. See also S. A. Woods Machine Co., 21 B. T. A. 818. Reviewed by the Board. Judgment will be entered for the respondent. --- Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/4491958. Public record. Not legal advice.