American Savings Bank & Trust Co. v. Commissioner

Board of Tax Appeals

American Savings Bank & Trust Co. v. Commissioner

18 B.T.A. 397

CourtUnited States Board of Tax Appeals

DecidedNovember 30, 1929

DocketDocket No. 18478

StatusPublished

Cited by1 cases

This text of 18 B.T.A. 397 (American Savings Bank & Trust Co. v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

American Savings Bank & Trust Co. v. Commissioner, 18 B.T.A. 397 (bta 1929).

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Opinion

[399]*399OPINION.

Geeen :

The petitioner contends that the debt became worthless in 1920. Its principal witness, now chairman of the board of directors of the successor bank and president of the petitioner in 1920, testified that the debt became worthless in 1919. We know of no case in which a taxpayer has been permitted to take a deduction for a bad debt in a year subsequent to the ascertainment of worthlessness of such debt.

Judgment will be entered for the respondent.

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[399]*399OPINION.

Geeen :

The petitioner contends that the debt became worthless in 1920. Its principal witness, now chairman of the board of directors of the successor bank and president of the petitioner in 1920, testified that the debt became worthless in 1919. We know of no case in which a taxpayer has been permitted to take a deduction for a bad debt in a year subsequent to the ascertainment of worthlessness of such debt.

Judgment will be entered for the respondent.

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Bluebook (online)

18 B.T.A. 397, Counsel Stack Legal Research, https://law.counselstack.com/opinion/american-savings-bank-trust-co-v-commissioner-bta-1929.

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