Miners Nat'l Bank v. Commissioner
United States Tax Court
Held, petitioner bank has not shown error in respondent's determination limiting its addition to bad debt reserve for 1954 to $ 75,563.04.
1Opinion of the Court
OPINION.
Tietjens, Judge:
The Commissioner determined a deficiency in income tax of $16,993.78 for the year ended December 31, 1954.
The only question for decision is whether the Commissioner properly determined that $75,563.04 was a reasonable addition to petitioner’s reserve for bad debts in 1954.
All of the facts are stipulated, are so found, and the stipulation together with the attached exhibits are included herein by reference.
Petitioner is a corporation organized and existing under the National Banking Laws, with its principal office in Wilkes-Barre, Pennsylvania. Petitioner’s Federal…
2Cases cited3 opinions
- Commissioner v. ConnellySupreme Court of the United States · 1949
- C. P. Ford & Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Union National Bank & Trust Co. of Elgin v. CommissionerUnited States Tax Court · 1956
3Cited by15 opinions
- Pullman Trust & Savings Bank v. United StatesDistrict Court, N.D. Illinois · 1963
- First Nat'l Bank v. CommissionerUnited States Tax Court · 1984
- North Carolina National Bank v. The United StatesUnited States Court of Claims · 1965
- Central Bank Co. v. CommissionerUnited States Tax Court · 1963
- First Nat'l Bank v. CommissionerUnited States Tax Court · 1965
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