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MERLITE INDUSTRIES, INC. v. COMMISSIONER

Docket No. 7908-72.

34 T.C.M. 1361 (1975)

T.C. Memo. 1975-312

Merlite Industries, Inc. (and Wholly-Owned Subsidiary, Merlite Commercial Corp.) v. Commissioner.

United States Tax Court.

Filed October 15, 1975.

Attorney(s) appearing for the Case

John F. Walsh, 230 Park Ave., New York, N.Y., David A. Zack and Leonard A. Blank, for the petitioner. William K. Carr, for the respondent.

Memorandum Findings of Fact and Opinion

QUEALY, Judge:

The respondent determined deficiencies in income taxes due from Merlite Industries, Inc., and its subsidiary, Merlite Commercial Corp., for the fiscal years ended July 31, 1966, and July 31, 1967, in the amounts of $2,097.42 and $23,948.69, respectively.

The issues for our decision are as follows:

1. Whether petitioner is entitled to bad debt deductions under section 166

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