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Spring City Foundry Co. v. Commissioner

291 U.S. 656 Court SCOTUS Decision date 1934-03-05 Docket Nos. 727 and 728 English

Delivered by Majority

Contents

Majority

p. 656
Nos. 727 and 728.
Spring City Foundry Co. v. Commissioner of Internal Revenue.
March 5, 1934.
Messrs. Edgar L. Wood and Richard H. Tyrrell for petitioner. Solicitor General Biggs for respondent.

The petition for writs of certiorari to the Circuit Court of Appeals for the Seventh Circuit is granted limited to the question whether a debt ascertained to be partially worthless in 1920 was deductible in that year under either § 234 (a) (4) or § 234 (a) (5) and to the question whether the debt was returnable as taxable income in that year to the extent that it was then ascertained to be worthless.