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This document is a court opinion from the Second Circuit Court of Appeals regarding the deductibility of legal fees paid by Viktor Petschek in attempting to recover losses from the confiscation of his business investments in Yugoslavia and Romania. The court held that: 1) The legal fees were deductible expenses under Section 212 of the tax code as they were incurred for the production or collection of income, even though the property had been confiscated years prior. 2) The fees were not capital expendit

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Scribd Government Docs

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EN