First Nat'l Bank v. Commissioner

FIRST NATIONAL BANK OF LOS ANGELES, PETITIONER, v. COMMISSIONER OR INTERNAL REVENUE, RESPONDENT.

LOS ANGELES TRUST & SAVINGS BANK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

First Nat'l Bank v. Commissioner

Docket Nos. 2817, 2818.

United States Board of Tax Appeals

6 B.T.A. 850; 1927 BTA LEXIS 3388;

April 15, 1927, Promulgated

Deductibility of certain debts determined.

William A. Bowen, Esq., for the petitioners.

A. Calder Mackay, Esq., for the respondent.

ARUNDELL

These are proceedings for the redetermination of deficiencies in income and profits taxes for the calendar years 1920 and…