Carey Salt Co. v. Commissioner
United States Board of Tax Appeals
Debts, ascertained to be worthless upon liquidation of debtor corporation, and charged off, allowed, reduced in part by a collection which creditor is assumed to have made, as a deduction, since the liquidation terminated the affiliation previously existing and the losses resulted from the liquidation and occurred outside the period of affiliation.
1Opinion of the Court
THE CAREY SALT COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
EMERSON CAREY FIBRE PRODUCTS COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Carey Salt Co. v. Commissioner
Docket Nos. 36381, 36382.
United States Board of Tax Appeals
26 B.T.A. 675; 1932 BTA LEXIS 1276;
July 19, 1932, Promulgated
Debts, ascertained to be worthless upon liquidation of debtor corporation, and charged off, allowed, reduced in part by a collection which creditor is assumed to have made, as a deduction, since the liquidation terminated the affiliation previously existing and the…
2Cases cited1 opinion
- Carey Salt Co. v. CommissionerUnited States Board of Tax Appeals · 1932