PERSON CONST. CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 7354.

116 F.2d 94 (1940)

PERSON CONST. CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

December 6, 1940.


Attorney(s) appearing for the Case

John J. Ames, of Chicago, Ill., for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key, Sp. Asst. to Atty. Gen., for respondent.

Before EVANS and KERNER, Circuit Judges, and LINDLEY, District Judge.


EVANS, Circuit Judge.

Is there substantial evidence to support the Board's finding that the bad debt for which the petitioner seeks a deduction was ascertained to be worthless before the taxable year 1933? This is our question.

Most of the facts are free from doubt or dispute.

Petitioner was a contractor who constructed, pursuant to a contract entered into in 1926, a four-story building containing two lodge halls, a small hall, and two stores, for...

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