INDUSTRIAL NATIONAL BANK — DETROIT v. COMMISSIONER

Docket No. 109339.

2 T.C.M. 654 (1943)

Industrial National Bank — Detroit, (formerly Industrial Morris Plan Bank of Detroit) v. Commissioner.

United States Tax Court.

Entered August 18, 1943.


Attorney(s) appearing for the Case

Alfred W. Massnick, Esq., Fred J. Kennedy, Esq., and Addison D. Connor, Esq., 1881 Nat'l Bank Bldg., Detroit, Mich., for the petitioner. Philip M. Clark, Esq., and Paul A. Sebastian, Esq., for the respondent.


Memorandum Opinion

MELLOTT, Judge:

This proceeding involves the following deficiencies in income tax:

  Year                   Amount

  1938 .............    $ 7,454.96
  1939 .............      5,672.16
  1940 .............     13,000.51

In the deficiency notice it is stated,

During the years 1938, 1939 and 1940 your company recovered $43,563.11, $34,376.74 and $31,668.80 of bad debts which had been charged off during...

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