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FELTEX CORPORATION v. COMMISSIONER

Docket No. 37120.

12 T.C.M. 382 (1953)

Feltex Corporation v. Commissioner.

United States Tax Court.

Entered April 9, 1953.

Attorney(s) appearing for the Case

George Heftler, Esq., for the petitioner. Robert McDonough, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The Commissioner has determined a deficiency in petitioner's income tax for the year 1943 of $4,400.91 and a deficiency in petitioner's excess profits tax of $176.73. The deficiency is due to the disallowance of a bad debt deduction of $17,363.38. The explanation which the Commissioner made in his deficiency notice for the disallowance was as follows:

"It is held that you are not entitled to a deduction as a bad debt...

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