Birdsboro Steel Foundry & MacHine Co. v. United States

LITTLETON, Judge.

This ease involves an alleged tax overpayment of $72,219.68, for 1918, by reason of the disallowance by the Commissioner of a deduction from gross income ef $80,419.21 determined to be worthless and charged off by plaintiff in 1918, This alleged debt from Brown and Munsell to plaintiff arose and accrued between May, 1898, and December, 1905, under a certain contract between Brown and Munsell and plaintiff’s predecessor, the Diamond Drill & Machine Company, for the manufacture by plaintiff of certain guns and gun mounts for which Brown and Munsell had a contract with the…