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COLLIN COUNTY NAT. BANK v. COMMISSIONER OF INTERNAL REVENUE

No. 5816.

48 F.2d 207 (1931)

COLLIN COUNTY NAT. BANK v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

March 31, 1931.

Attorney(s) appearing for the Case

J. M. McMillin, of Dallas, Tex., and William R. Abernathy, of McKinney, Tex., for petitioner.

G. A. Youngquist, Asst. Atty. Gen., J. P. Jackson and J. Louis Monarch, Sp. Assts. to Atty. Gen., and C. M. Charest, Gen. Counsel Bureau Internal Revenue, and J. S. Franklin, Sp. Atty. Bureau Internal Revenue, both of Washington, D. C., for respondent.

Before BRYAN and FOSTER, Circuit Judges, and HUTCHESON, District Judge.

BRYAN, Circuit Judge.

This is a petition to review a decision of the Board of Tax Appeals which disallowed deductions claimed by the petitioning bank from its income tax return for the calendar year 1920. The facts are fully stated in the Board's opinion, 14 B. T. A. 1256, and need not be repeated here at any length. The bank charged off as losses or bad debts two items, one of $30,000 on October 5, and the other of $56,000 at the end of the year, or in all $86,000...

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