...Revenue Act of 1921 provides: That In computing net income there shall be allowed as deductions: ******* (7) Debts ascertained to be worthless and charged...discretion of the Commissioner, a reasonable addition to » reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner...

...taxable year (or in the discretion of the Commissioner, a reasonable addition to a reserve for bail debts) ; and when satisfied that a debt is recoverable...the Commissioner may allow such debt to be charged oft in part. It was the intention of Congress in the adoption of this provision to permit a taxpayer...

...deductions: ****** • (7) Debts ascertained to be worthless and charged off within the taxable rear (or, in the discretion of the Commissioner, a reasonable...addition to a reserve for bad debts) ; and when satisfied thnt a debt Is recoverable only in part, the Commissioner may allow such debt to be chtirged off in...

...FROM GROSS INCOME.] [In computing net income there shall be allowed as deductions:] (j) Bad debts. — Debts ascertained to be worthless and charged off...discretion of the Commissioner, a reasonable addition t<» a reserve for bad debts) ; and when satisfied that a debt is rei-overable only in part, the Commissioner...

...years $3 579 000 11,440,000 7,781 000 $122,291 108,929 183 605 3.84 .95 2.36 22,800 000 414 825 1 82 the taxable year, or in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts. The Commissioner, in the exercise of his discretion, provided in Regulations 62, promulgated...

...[In computing net Income there shall be allowed as deductions:] (j) Bad debts.—Debts ascertained to be worthless and charged off within the taxable year...only in part, the Commissioner may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction. ART. 191....

...only in part, was granted by the Act of 1921. By that Act, § 234 (a) (5) was changed so as to read: " Debts ascertained to be worthless and charged off...Commissioner may allow such debt to be charged off in part." We think that the fair import of this provision, as contrasted with the earlier one, is that the Congress,...

...in any transaction entered into for profit, though not connected with the trade or business; * * * "(7) Debts ascertained to be worthless and charged...Commissioner may allow such debt to be charged off in part; * * *" The defendant concedes that the amount in question was charged off plaintiffs' books in the...

...capital assets shall be allowed only to the extent provided in section 117 (d). (k) Bad debts. — Debts ascertained to be worthless and charged off...only in part, the Commissioner may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction. ART. 23(k)-1....

...capital assets shall be allowed only to the extent provided in section 117 (d) . (k) BAD DEBTS. — Debts ascertained to be worthless and charged off...only in part, the Commissioner may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction. (1) DEPRECIATION....