OLYMPIA HARBOR LUMBER CO. v. COMMISSIONER OF INT. REV.

No. 7682.

79 F.2d 394 (1935)

OLYMPIA HARBOR LUMBER CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Ninth Circuit.

August 12, 1935.


Attorney(s) appearing for the Case

Thomas N. Fowler, of Seattle, Wash., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key and F. E. Youngman, Sp. Assts. to the Atty. Gen., for respondent.

Before WILBUR, DENMAN, and MATHEWS, Circuit Judges.


WILBUR, Circuit Judge.

This is a petition to review a decision of the Board of Tax Appeals affirming a decision of the Commissioner fixing a deficiency in the federal income tax of petitioner for the calendar year 1929. During that year the petitioner claimed a deduction of $33,594.65 on account of a debt of $84,722 due to petitioner by the Tumwater Lumber & Mill Company (hereinafter called Tumwater Company). Petitioner claimed that it had ascertained such indebtedness...

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