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J. F. JOHNSON LUMBER CO. v. COMMISSIONER

Docket No. 3019.

3 T.C. 1160 (1944)

THE J. F. JOHNSON LUMBER COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated July 27, 1944.

Attorney(s) appearing for the Case

Stanley Worth, Esq., for the petitioner.

E. L. Corbin, Esq., for the respondent.

In determining excess profits tax deficiencies of $3,911.48 for the fiscal year ended January 31, 1941, and $8,261.65 for the fiscal year ended January 31, 1942, the Commissioner refused to exclude bad debt recoveries from excess profits net income, with the following explanation:

The provisions of Section 711 (a) (1) (E) of the Internal Revenue Code relating to recoveries of bad debts are not applicable when the reserve method...

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