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DUNN & McCARTHY v. COM'R OF INTERNAL REVENUE

No. 67.

139 F.2d 242 (1943)

DUNN & McCARTHY, Inc., v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

December 10, 1943.

Attorney(s) appearing for the Case

D. A. Embury, of New York City (Curtis, Mallet-Prevost, Colt & Mosle, of New York City, of counsel), for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key, J. Louis Monarch, and Robert N. Anderson, Sp. Assts. to the Atty. Gen., for respondent.

Before SWAN, AUGUSTUS N. HAND, and FRANK, Circuit Judges.

SWAN, Circuit Judge.

The sole question for decision is whether a certain sum paid out by the taxpayer during the year 1939 was an allowable deduction from gross income as an ordinary and necessary expense of carrying on its trade or business within the meaning of § 23(a) of the Internal Revenue Code as amended by § 121 of the Revenue Act of 1942, 56 Stat. 819, 26 U.S.C.A. Int.Rev. Code, § 23(a). The taxpayer is a New York corporation engaged in the...

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