Cherrydale Cement Block Co. v. Commissioner
United States Tax Court
BAD DEBT - Sec. 166(a)(1), I.R.C. 1954 - Held, that an indebtedness owing to petitioner became wholly worthless in 1955, and the right to a bad debt deduction in that year is not precluded by the fact of partial recoupment in a subsequent year.
1Opinion of the Court
Cherrydale Cement Block Co., Inc. v. Commissioner.
Cherrydale Cement Block Co. v. Commissioner
Docket No. 83285.
United States Tax Court
T.C. Memo 1962-262; 1962 Tax Ct. Memo LEXIS 46; 21 T.C.M. (CCH) 1408; T.C.M. (RIA) 62262;
November 7, 1962
BAD DEBT - Sec. 166(a)(1), I.R.C. 1954 - Held, that an indebtedness owing to petitioner became wholly worthless in 1955, and the right to a bad debt deduction in that year is not precluded by the fact of partial recoupment in a subsequent year.
Dewey R. Roark, Jr., Esq., Munsey Bldg. Washington, D.C. for the petitioner. W. Ralph Musgrove, Esq., for the…
2Cases cited8 opinions
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Boehm v. CommissionerSupreme Court of the United States · 1945
- Dallmeyer v. CommissionerUnited States Tax Court · 1950
- Smyth, Collector of Internal Revenue v. BarnesonCourt of Appeals for the Ninth Circuit · 1950
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Sollitt Construction Co. v. United StatesUnited States Court of Claims · 1983