Sass v. Commissioner
United States Board of Tax Appeals
Pursuant to an agreement of guaranty, the petitioner, in the year 1919, paid partly in cash and partly in notes, certain notes, the payment of which he had guaranteed. Held, in the absence of evidence as to the worthlessness of the notes so paid by cash and notes, no deduction may be taken as a worthless debt or as a loss on account thereof.
1Opinion of the Court
MORRIS SASS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Sass v. Commissioner
Docket No. 6922.
United States Board of Tax Appeals
7 B.T.A. 557; 1927 BTA LEXIS 3147;
June 28, 1927, Promulgated
Pursuant to an agreement of guaranty, the petitioner, in the year 1919, paid partly in cash and partly in notes, certain notes, the payment of which he had guaranteed. Held, in the absence of evidence as to the worthlessness of the notes so paid by cash and notes, no deduction may be taken as a worthless debt or as a loss on account thereof.
Robert Ash, Esq., for the petitioner.
J. E. Halstead,…
2Cases cited1 opinion
- Sass v. CommissionerUnited States Board of Tax Appeals · 1927