Memorandum Findings of Fact and Opinion
HARRON, Judge:
The Commissioner determined an income tax deficiency of $128,553.91, for petitioner's fiscal year ended August 31, 1955. Part of the deficiency results from respondent's disallowance of a deduction of $591,603.68 for a partially worthless debt under section 166(a)(2), 1954 Code. The chief question is whether cash advances of petitioner to Patroon Broadcasting Co., Inc., in which petitioner is the controlling...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.