Prescott State Bank v. Commissioner
United States Board of Tax Appeals
Evidence held insufficient to establish that certain city warrants were ascertained to be worthless in the taxable year.
1Opinion of the Court
*148OPINION.
Van Fossan:
The evidence adduced in this case fails to establish that the city warrants were ascertained to be worthless in 1921 when they were charged off by direction of the bank examiner. When petitioner bought the warrants it knew that they were to be paid for out of a special fund under an ordinance which provided for their payment on demand “ providing there are sufficient funds to pay the same; otherwise he (the treasurer) shall endorse on such warrant ‘Not paid for want of funds,’ annexing the date of presentation and sign his name thereto, and from that time until redeemed…
2Cited by11 opinions
- Chemical Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1934
- Chemical National Bank of New York v. CommissionerUnited States Board of Tax Appeals · 1934
- Dean v. CommissionerUnited States Tax Court · 1970
- Johnson v. CommissionerUnited States Tax Court · 1962
- Midland Nat'l Life Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1928
6 more not listed; retrieve them via the Exa API.