MIKE PERSIA CHEVROLET, INC. v. COMMISSIONER

Docket No. 88775.

41 T.C. 198 (1963)

MIKE PERSIA CHEVROLET, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed November 15, 1963.


Attorney(s) appearing for the Case

Stanley Schoenbaum, for the petitioner.

John D. Laflin, for the respondent.


OPINION

DRENNEN, Judge:

Respondent determined a deficiency in petitioner's income tax for the taxable years 1956 and 1957 in the amounts of $64,609.961 and $24,060.61, respectively. The only issue remaining for decision is whether petitioner is entitled to deduct an addition to a reserve for bad debts under section 166(c), I.R.C. 1954,2 with respect...

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