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MINERS NATIONAL BANK OF WILKES-BARRE v. COMMISSIONER

Docket No. 65661.

33 T.C. 42 (1959)

MINERS NATIONAL BANK OF WILKES-BARRE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed October 14, 1959.

Attorney(s) appearing for the Case

Jules G. Korner III, Esq., for the petitioner.

Christopher J. Ray, Esq., for the respondent.

OPINION.

TIETJENS, Judge:

The Commissioner determined a deficiency in income tax of $16,993.73 for the year ended December 31, 1954.

The only question for decision is whether the Commissioner properly determined that $75,563.04 was a reasonable addition to petitioner's reserve for bad debts in 1954.

All of the facts are stipulated, are so found, and the stipulation together with the attached exhibits are included herein by reference...

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