Opinion

Chicago Lumber Co. v. Commissioner

  • 18 B.T.A. 916
  • 1930 BTA LEXIS 2572
Court
United States Board of Tax Appeals
Filed
Jan 24, 1930
Status
Published
Author
Fossak
On the bench
Morris, Lansdon, Phillips, Only, Fossak, Marquette, Steenhagen, Agree
Cited by
0 cases

The opinion

VaN Fossak,

dissenting: In my judgment, the item arising from the forfeiture of a guaranty to the trade organization is not a proper expense deduction. It is not shown to be either an “ ordinary ” or a “ necessary ” expense within my understanding of the phrase.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

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