Sooren Hovhannissian and Estate of Mary Hovhannissian, Deceased, Sooren Hovhannissian, Executor - Page 23

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          have been, could not have been a ‘theft’ for tax deduction                  
          purposes”).13                                                               
               Neither section 1038 nor section 165 allows petitioners’               
          claim to a loss upon petitioner’s reacquisition of the 225-235              
          Boston Avenue property in 1990.                                             
               To reflect the foregoing and the parties’ concessions,                 

          Decision will be entered                                                    
          under Rule 155.                                                             
























               13 Sec. 280B expressly restricts the deduction of losses               
          resulting from demolition of buildings.                                     

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