Johnstone v. Commissioner

Board of Tax Appeals

Johnstone v. Commissioner

17 B.T.A. 366, 1929 BTA LEXIS 2306

United States Board of Tax Appeals·Decided September 20, 1929·No. Docket No. 30694.·Published·Cited by 4 cases

Opinion

[368]*368OPINION.

Trussell:

We think that under the proof it is shown that petitioner made a sufficient investigation and effort to recover upon the debt and that the conclusion reached by him in the taxable year that it was uncollectible and worthless was, under the conditions shown and then known to him, reasonable and justified. We do not think that the circumstances required that he bring suit, against the advice and opinion of his attorney that the cost would exceed the recovery. Townsend Lumber Co., 1 B. T. A. 894.

Judgment will be entered for the petitioner.

Free access — add to your briefcase to read the full text and ask questions with AI

[368]*368OPINION.

Trussell:

We think that under the proof it is shown that petitioner made a sufficient investigation and effort to recover upon the debt and that the conclusion reached by him in the taxable year that it was uncollectible and worthless was, under the conditions shown and then known to him, reasonable and justified. We do not think that the circumstances required that he bring suit, against the advice and opinion of his attorney that the cost would exceed the recovery. Townsend Lumber Co., 1 B. T. A. 894.

Judgment will be entered for the petitioner.

Johnstone v. Commissioner, 17 B.T.A. 366, 1929 BTA LEXIS 2306 (bta 1929).

Pincite

17 B.T.A. 366 (Johnstone v. Commissioner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Opinion

Related