MURRAY HOSPITAL v. RASMUSSEN

No. 5860.

35 F.2d 864 (1929)

MURRAY HOSPITAL v. RASMUSSEN, Collector of Internal Revenue.

Circuit Court of Appeals, Ninth Circuit.

November 18, 1929.


Attorney(s) appearing for the Case

T. J. Walker and C. S. Wagner, both of Butte, Mont., for appellant.

Wellington D. Rankin, U. S. Atty., and Arthur P. Acher, Asst. U. S. Atty., both of Helena, Mont. (C. M. Charest, Gen. Counsel, Bureau of Internal Revenue, of Washington, D. C., of counsel), for appellee.

Before RUDKIN, DIETRICH, and WILBUR, Circuit Judges.


RUDKIN, Circuit Judge.

As will appear from the opinion on a former appeal, the principal question in this case is whether the entire sum of $100,000, there mentioned, was paid on account of the purchase price of capital stock of the corporation, or whether $57,200 of that amount was an ordinary and necessary expense; paid and incurred during the taxable year in carrying on the trade and business of the corporation, or was a loss sustained by the corporation during...

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