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 As you are aware we have offered this as a free subscription over the past years and we have now made it a paid service.Look forward to your continued patronage.NEVER MISS A DECISION. START YOUR SUBSCRIPTION.
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