 | United States. Tax Court - 1956 - 1232 pages
...the the discretion of the Commissioner) a reasonable addition to a reserve for bad debts; and wben satisfied that a debt Is recoverable only In part,...may allow such debt, In an amount not in excess of the amount charged off within the taxable year, as a deduction. This paragraph shall not apply In the... | |
 | United States. Court of Claims, Audrey Bernhardt - 1957 - 1100 pages
...allowed as deductions : ***** (k) Bad Debts — (1) General Rule. — Debts which become worthless within the taxable year; or (in the discretion of...charged off within the taxable year, as a deduction. * * * The taxpayer had several conferences with agents of the Commissioner of Internal Revenue, but... | |
 | United States. Tax Court - 1957 - 1178 pages
...business ; or • •••••• (k) BAD DEBTS. — (1) GENERAL BULK. — Debts which become worthless within the taxable year; or (In the discretion of...excess of the part charged off within the taxable year. »» a deduction. • • • as above; (3) if not so regarded, the corporation should be found to... | |
 | United States. Tax Court - 1957 - 1306 pages
...deductions : • »*••»• (k) BAD DEBTS. — (1) GENERAL BULB. — Debts which become worthless within the taxable year ; or (In the discretion of...recoverable only in part, the Commissioner may allow each debt, in an amount not in excess of the part charged off within the taxable year, as a deduction.... | |
 | United States. Tax Court - 1957 - 1440 pages
...BAD DEBTS. — (1) GENERAL BULB. — Debts which become worthless within the taxable year; • » * and when satisfied that a debt is recoverable only...debt, in an amount not in excess of the part charged oft within the taxable year, as a deduction. * * • It will be observed that where a specific debt... | |
 | United States. Tax Court - 1943 - 1330 pages
...there shall be allowed as deductions : • *•«••• (k) BAD DEBTS.' — (1) GENERAL RULE. — Debts ascertained to be worthless and charged off...charged off within the taxable year, as a deduction. This paragraph shall not apply In the case of a taxpayer, other than a bank, as defined in section... | |
 | United States. Tax Court - 1956 - 1170 pages
...deductions : •••*•»• (k) BAD DEBTS. — <1) GENERAL ROLE. — Debts which become worthless within the taxable year; or (In the discretion of...charged off within the taxable year, as a deduction. * * * 1 It Is questionable whether the customer was obligated to "mark the market." Loss and Vernon,... | |
 | United States. Tax Court - 1956 - 1226 pages
...conclusion along a line different from that argued by petitioner, we have concluded with respect to the the discretion of the Commissioner) a reasonable addition...may allow such debt, In an amount not In excess of the amount charged off within the taxable year, as a deduction. This paragraph shall not apply In the... | |
 | United States. Tax Court - 1947 - 1354 pages
...depletion allowances. Kirby Petro« Internal Revenue Code, section 23 (k) : "(k) BAD DEBTS. — "(1) * * * when satisfied that a debt Is recoverable only In...charged off within the taxable year, as a deduction. This paragraph shall not apply In the case of a taxpayer • • • with respect to a debt evidenced... | |
 | Jacob Stewart Seidman - 2003 - 972 pages
...DEDUCTIONS FROM GROSS INCOME.] [(k) Bad Debts.—] (1) General rule. — Debts which become worthless within the taxable year; or (in the discretion of...such debt, in an amount not in excess of the part which becomes worthless within the taxable year, as a deduction. This paragraph shall not apply in... | |
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Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner may... 
