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INMAN-POULSEN LUMBER CO. v. COMMISSIONER

Docket No. 29212.

12 T.C.M. 193 (1953)

Inman-Poulsen Lumber Co., an Oregon corporation, v. Commissioner.

United States Tax Court.

Entered February 27, 1953.

Attorney(s) appearing for the Case

Ralph R. Bailey, Esq., 723 Pittock Block, Portland, Ore., for the petitioner. Douglas R. Barnes, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

JOHNSON, Judge:

Respondent has determined a deficiency of $11,900.17 in petitioner's income tax for the year 1944.

The sole issue is whether petitioner is entitled to a bad debt deduction of $47,368.76 in determining its 1944 income tax liability. Other adjustments were made in the deficiency notice, but they are not now in issue.

Findings of Fact<...

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