Lafayette Lumber Co. v. Commissioner

LAFAYETTE LUMBER CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Lafayette Lumber Co. v. Commissioner

Docket No. 16243.

United States Board of Tax Appeals

20 B.T.A. 993; 1930 BTA LEXIS 1991;

September 25, 1930, Promulgated

The Commissioner did not err in disallowing, either as a bad debt or as a loss, a deduction claimed by the petitioner from its gross income for 1920.

William G. Heiner, Esq., for the petitioner.

W. Frank Gibbs, Esq., for the respondent.

MURDOCK

The Commissioner determined a deficiency of $11,424.96 in the petitioner's income and profits taxes for the calendar year…