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F. W. SICKLES CO. v. UNITED STATES

No. 43168.

31 F.Supp. 654 (1940)

F. W. SICKLES CO. v. UNITED STATES.

Court of Claims.

March 4, 1940.

Attorney(s) appearing for the Case

Dwight Rorer, of Washington, D. C. (Smith, Moore & Lucas, of Washington, D. C., on the brief), for plaintiff.

D. F. Hickey, of Washington, D. C., and Samuel O. Clark, Jr., Asst. Atty. Gen. (Robert N. Anderson and Fred K. Dyar, Sp. Assts. to Atty. Gen., on the brief), for defendant.

Before WHALEY, Chief Justice, and GREEN, LITTLETON, WILLIAMS, and WHITAKER, Judges.

WHITAKER, Judge.

The plaintiff in computing its net income for its fiscal year ending March 31, 1930, deducted a net loss of $22,351.95, which included a net loss of $14,199.48, which it claimed it had sustained for the fiscal year ending March 31, 1929. In computing this net loss the plaintiff did not include in its income the sum of $19,752.83 on account of the forgiveness of an indebtedness owed by it to three of its stockholders, Bausman, Boynton, and Hyde. The...

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