ALLIED STORES CORPORATION v. COMMISSIONER

Docket No. 63341.

19 T.C.M. 1149 (1960)

T.C. Memo. 1960-209

Allied Stores Corporation v. Commissioner.

United States Tax Court.

Filed September 30, 1960.


Attorney(s) appearing for the Case

Percy W. Phillips, Esq., Southern Building, Washington, D. C., for the petitioner. Emil Sebetic, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined a deficiency in Federal income tax of the petitioner for the fiscal year ended January 31, 1950, in the amount of $1,019,900.69, not all of which is in controversy herein.

The deficiency resulted in part from the respondent's determination "that you have failed to establish that the amount of $1,014,345.20 allegedly due from The Rollman and Sons Company, constitutes a proper bad debt deduction...

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