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MILLS & LUPTON SUPPLY COMPANY, INC. v. COMMISSIONER

Docket No. 7022-75.

36 T.C.M. 1173 (1977)

T.C. Memo. 1977-294

Mills & Lupton Supply Company, Inc. v. Commissioner.

United States Tax Court.

Filed August 30, 1977.

Attorney(s) appearing for the Case

Carl A. Swafford and Ford P. Mitchell, 9th Floor, Maclellan Bldg., Chattanooga, Tenn., for the petitioner. Robert B. Nadler, for the respondent.

Memorandum Findings of Fact and Opinion

WILES, Judge:

Respondent determined a $6,322.15 deficiency in petitioner's 1972 income tax. The sole issue is whether petitioner's 1972 addition to its bad debt reserve was reasonable. If so, the addition is deductible under section 166(c).1

Findings of Fact

Some of the facts were stipulated and are found accordingly.

Petitioner is a corporation organized and existing...

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