No. 33.

290 U.S. 111 (1933)


Supreme Court of United States.

Decided November 6, 1933.

Attorney(s) appearing for the Case

Mr. Edward S. Stringer, with whom Messrs. Thomas D. O'Brien, and Alexander E. Horn. were on the brief, for petitioner.

Mr. H. Brian Holland argued the cause, and Solicitor General Biggs and Messrs. Sewall Key and John G. Remey filed a brief, for respondent.

MR. JUSTICE CARDOZO delivered the opinion of the Court.

The question to be determined is whether payments by a taxpayer, who is in business as a commission agent, are allowable deductions in the computation of his income if made to the creditors of a bankrupt corporation in an endeavor to strengthen his own standing and credit.

In 1922 petitioner was the secretary of the E.L. Welch Company, a Minnesota corporation, engaged in the grain business. The company...

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