Legal Opinion
Mayer Tank Mfg. Co. v. Commissioner
Court of Appeals for the Second Circuit
Decided March 14, 1942No. 127PublishedCited by 19 opinions
1Opinion of the Court
FRANK, Circuit Judge.
1. The taxpayer had at all times, until it came before us, taken an all- or-nothing attitude toward the allowance of the claimed deduction. At no time did it suggest to the Commissioner that if 100% of the debt was not deductible, some smaller portion should be allowed as a deduction. Nor did it request the Board to determine whether there was partial worthlessness. We think that it is now too late to ask for such a determination. For the Commissioner, by yirtue of the statutory provision1 that he “may” allow a partial deduction, has some measure2 of discretion in passing…
2Cases cited8 opinions
- Avery v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1927
- Stranahan v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1930
- Moore v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1939
- Sabath v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1938
- Rosenthal v. HelveringCourt of Appeals for the Second Circuit · 1941
3 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Portland Mfg. Co. v. CommissionerUnited States Tax Court · 1971
- Reading Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1942
- Austin Co. v. CommissionerUnited States Tax Court · 1979
- Loewi & Co. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1956
- Lehman v. CommissionerCourt of Appeals for the Second Circuit · 1942
14 more not listed; retrieve them via the Exa API.