Cross v. Commissioner
United States Board of Tax Appeals
In 1925 the petitioner determined a certain debt to be worthless, charged it off his books and claimed a deduction therefor. All the facts and circumstances upon which the determination of worthlessness could be based had existed without charge since the latter part of 1921, and were fully known to the petitioner during all that time. Held, the petitioner is not entitled to the deduction claimed in 1925.
1Opinion of the Court
RALPH H. CROSS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Cross v. Commissioner
Docket No. 33767.
United States Board of Tax Appeals
20 B.T.A. 929; 1930 BTA LEXIS 2002;
September 23, 1930, Promulgated
In 1925 the petitioner determined a certain debt to be worthless, charged it off his books and claimed a deduction therefor. All the facts and circumstances upon which the determination of worthlessness could be based had existed without charge since the latter part of 1921, and were fully known to the petitioner during all that time. Held, the petitioner is not entitled to the…
2Cases cited1 opinion
- Cross v. CommissionerUnited States Board of Tax Appeals · 1930