This proceeding involves a deficiency of $32,265.74 in excess profits tax asserted against the petitioner for the year 1944. The question for our determination is whether the total amount of rent arrearage forgiven by the petitioner-landlord is an allowable deduction in computing its taxable net income for that year. In the alternative, petitioner argues that, if the total amount of rent arrearage forgiven in 1944 is not deductible, then the rentals which became payable...
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.
