Troop Water Heater Co. v. Bingler

MARSH, District Judge.

The defendant, John H. Bingler, District Director of Internal Revenue, disallowed plaintiffs’ claims for refund of income taxes paid for years 1955 and 1956 in amounts of $6,330.23 and $12,-959.32, respectively. In the present litigation the principal issue presented is whether the plaintiff taxpayer, Troop Water Heater Company (Troop), was entitled to a bad debt deduction claimed by its Receiver, also a plaintiff, in its 1957 income tax return.1 Dependent upon the decision of this issue is whether Troop sustained a net operating loss in 1957 which may be carried back to…