Britton Lumber Co. v. Commissioner
United States Board of Tax Appeals
Held, under the evidence, that the petitioner used the reserve method of handling its bad debts in the years involved, and the permission of the Commissioner not having been obtained to adopt this method, the deductions claimed are disallowed.
1Opinion of the Court
opinion.
Trammell:
This is a proceeding for the redetermination of deficiencies in income tax for 1922,1928,1924, and 1925 in the amounts of $1,239.86, $1,807.34, $256.22, and $2,820.79, respectively. It is alleged that the Commissioner erred in his determination of the depletion for the years 1922, 1923, 1924, and 1925, and that he erred in determining the amount of depreciation allowances for 1923,1924, and 1925, and that he erred in disallowing “ amounts set up by taxpayer as a reserve for bad debts ” for 1923,1924, and 1925.
Petitioner is a Florida corporation with its principal office at…
2Cited by3 opinions
- Britton Lumber Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- Century Die Casting Co. v. CommissionerUnited States Tax Court · 1943
- Herder v. CommissionerUnited States Board of Tax Appeals · 1937