No. 72-1883.

476 F.2d 406 (1973)

FARMERS' AND MERCHANTS' BANK, a corporation, Appellant, v. UNITED STATES of America, Appellee.

United States Court of Appeals, Fourth Circuit.

Decided April 6, 1973.

Attorney(s) appearing for the Case

Thomas N. Chambers, Charleston, W. Va. (Benjamin G. Reeder, Morgantown, W. Va., Louis S. Southworth, II, Charleston, W. Va., Reeder & Shuman, Morgantown, W. Va., and Jackson, Kelly, Holt & O'Farrell, Charleston, W. Va., on brief), for appellant.

Charles R. Burnett, Atty., Tax Div., U. S. Dept. of Justice (Scott P. Crampton, Asst. Atty. Gen., Meyer Rothwacks, Bennet N. Hollander, Attys., Tax Div., U. S. Dept. of Justice, Paul C. Camilletti, U. S. Atty., and James F. Companion, Asst. U. S. Atty., on brief), for appellee.

Before HAYNSWORTH, Chief Judge, BRYAN, Senior Circuit Judge, and WIDENER, Circuit Judge.

ALBERT V. BRYAN, Senior Circuit Judge:

A refund of 1964 Federal income taxes was sued for by the Farmers' and Merchants' Bank of Morgantown, West Virginia in April 1972, but the District Court sustained the Government in denying the tax benefit on which the bank's claim rested. The bank appeals.

Its claim, amounting to $36,410.20 plus interest, arose in the computation of the bad debt deduction allowed for income tax purposes. 26 U.S.C. § 166 (Internal...


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