Bender v. Heiner

SCHOONMAKER, District Judge.

This is an action by the receiver of a national bank to recover from a collector of internal revenue $13,808.57 representing income taxes paid for the calendar year 1931, with interest thereon. This suit is timely brought. Proper claims for refund were daily made and disallowed by the *532Commissioner of Internal Revenue. The questions presented were these: (1) Was the Bank entitled to deductions in computing its net taxable income for the calendar year 1931 for losses claimed to have been sustained, due to the alleged partial worthlessness of certain bonds held by the…