United States Board of Tax Appeals January 8, 1925, Docket No. 396 (Appeal of C. S. Webb, Inc.)

*271OPINION.

Lansdon:

The first question involved in this appeal is whether the taxpayer was entitled to deduct the amount of $37,926.75 from its income for the year ended June 30, 1919, as a bad debt ascertained to be worthless and written off its books in the year in question.