The respondent determined a deficiency against petitioner in income tax for the year 1939 in the amount of $11,138.28. The first issue is whether petitioner realized taxable income on the recovery in 1939 of debts deducted in prior years. The second issue concerns the propriety of bad debt deductions taken by petitioner for the year 1939.
Findings of Fact
Petitioner is a national bank with offices in St. Paul, Minnesota. It filed its original income tax...
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