JOURNAL CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 7819.

125 F.2d 349 (1942)

JOURNAL CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

January 26, 1942.


Attorney(s) appearing for the Case

Edmund B. Shea and C. F. Mikkelson, both of Milwaukee, Wis., for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., J. Louis Monarch, and Lee A. Jackson, Sp. Assts. to Atty. Gen., and J. E. Garvey and J. P. Wenchel, Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before EVANS, MAJOR, and MINTON, Circuit Judges.


EVANS, Circuit Judge.

Petitioner is a Wisconsin corporation against whom respondent assessed a $40,940.28 deficiency tax for 1936. On an appeal to the Board of Tax Appeals, the assessment was sustained. 44 B.T.A. 460.

The controversy is over an item of $112,564.97, which was paid by petitioner in connection with petitioner's purchase of the late Mr. Nieman's stock in the Journal Company. The parties differ as to whether this payment was an interest payment...

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