The Commissioner determined deficiencies in income tax of $957.71 for 1936 and $1,446.14 for 1937, and a deficiency of $283.38 in excess profits tax for 1937. One issue is whether he erred in disallowing deductions as additions to the reserve for bad debts for each year, and the other issue is whether the petitioner erred in reporting a capital gain of $42,564.58 for 1937 upon the transfer of property in that year in satisfaction of a debt secured by a bond and mortgage....
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
