United States Board of Tax Appeals July 24, 1928, Docket No. 13087. (Iron City Engineering Co. v. Commissioner)

lead-opinion

*34OPINION.

MuRdock :

In order to establish its right to this deduction it was necessary for the petitioner to show that such a debt was actually ascertained to be worthless in the taxable year and that it was the kind of a debt that Congress intended should be deducted under section 234(a) (5) of the Revenue Act of 1921. See Charles A. Collin, 1 B. T. A. 305, and Howard J.