First Nat'l Bank v. Commissioner

FIRST NATIONAL BANK OF DURANT, OKLAHOMA, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

First Nat'l Bank v. Commissioner

Docket No. 6913.

United States Board of Tax Appeals

6 B.T.A. 545; 1927 BTA LEXIS 3485;

March 16, 1927, Promulgated

Upon the evidence, deductions of a loss sustained in 1919 allowed; deductions of alleged bad debts in 1920 disallowed.

Hubert L. Bolen, Esq., for the petitioner.

B. H. Saunders, Esq., for the respondent.

LOVE

This proceeding is to redetermine deficiencies in income and excess-profits taxes for the years 1919 and 1920, amounting to $2,893.88. The…