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DEPUTY v. du PONT

No. 151.

308 U.S. 488 (1940)

DEPUTY, ADMINISTRATRIX, ET AL. v. du PONT.

Supreme Court of United States.

Decided January 8, 1940.

Attorney(s) appearing for the Case

Mr. Robert K. McConnaughey, with whom Solicitor General Jackson, Assistant Attorney General Clark, and Messrs. Sewall Key, Newton K. Fox, and Richard H. Demuth were on the brief, for petitioners.

Mr. George Wharton Pepper, with whom Mr. James S.Y. Ivins was on the brief, for respondent.

MR. JUSTICE DOUGLAS delivered the opinion of the Court.

This case presents the question of whether respondent in computing his taxable net income for the year 1931 may deduct payments of $647,711.56 made by him in that year to the Delaware Realty and Investment Co. (hereinafter called the Delaware Company). The deduction is sought either under § 23 (a) of the Revenue Act of 1928 (45 Stat. 791) as "ordinary and necessary expenses paid

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