Albers v. Reinecke

MAJOR, Circuit Judge.

This is an appeal from a decision of the District Court denying appellant’s claim for refund in the amount of $10,095.38, with certain interest thereon, asserted to have been illegally collected for the year 1920. The controversy involves a construction of section 234 of the Revenue Act of 1918 (40 Stat. 1077) as follows:

“Sec. 234. (a) That in computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions: * * *

“(5) Debts ascertained to be worthless and charged off within the taxable year.”

A jurisdictional question…