WILLIAMS LIVESTOCK COMPANY v. COMMISSIONER

Docket No. 60174.

17 T.C.M. 78 (1958)

T.C. Memo. 1958-17

Williams Livestock Company v. Commissioner.

United States Tax Court.

Filed January 31, 1958.


Attorney(s) appearing for the Case

William McRae, Esq., Security Building, Phoenix, Ariz., for the petitioner. Earl C. Crouter, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined a deficiency in the income tax of petitioner in the amount of $7,080.53 for the fiscal year ending June 30, 1953.

The sole issue is whether the petitioner, during its fiscal year ending June 30, 1953, sustained an ordinary loss or a loss from a bad debt as the result of certain transactions in October and November 1952.

Findings of Fact

Petitioner is an Arizona corporation...

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