Portland R., L. & P. Co. v. Commissioner
United States Board of Tax Appeals
Advances to an operating corporation, which corporation is not terminated by bankruptcy proceedings or otherwise, may not be deducted as worthless debts in the absence of definite and convincing proof of worthlessness.
1Opinion of the Court
Appeal of PORTLAND RAILWAY, LIGHT AND POWER CO.
Portland R., L. & P. Co. v. Commissioner
Docket No. 750.
United States Board of Tax Appeals
1 B.T.A. 1150; 1925 BTA LEXIS 2644;
May 20, 1925, decided Submitted February 17, 1925.
Advances to an operating corporation, which corporation is not terminated by bankruptcy proceedings or otherwise, may not be deducted as worthless debts in the absence of definite and convincing proof of worthlessness.
Henry A. McCarthy, Esq., for the taxpayer.
A. Calder Mackay, Esq., for the Commissioner.
JAMES
Before JAMES, STERNHAGEN, and TRUSSELL.
This is an appeal from a…
2Cases cited7 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- United States v. FlannerySupreme Court of the United States · 1925
- McCaughn v. LudingtonSupreme Court of the United States · 1925
- Even Realty Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Steele Cotton Mill Co. v. CommissionerUnited States Board of Tax Appeals · 1925
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