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LINCOLN ELECTRIC CO., ETC. v. COMMISSIONER OF INT. REV.

No. 11211.

190 F.2d 326 (1951)

LINCOLN ELECTRIC CO. EMPLOYEES' PROFIT-SHARING TRUST et al. v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Sixth Circuit.

June 28, 1951.

Attorney(s) appearing for the Case

Thomas V. Koykka, Cleveland, Ohio, (Thomas V. Koykka, and McKeehan, Merrick, Arter & Stewart, all of Cleveland, Ohio, on the brief), for petitioners.

Hilbert Zarky, Washington, D. C. (Theron Lamar Caudle, Ellis N. Slack, A. F. Prescott, and Harry Baum, all of Washington, D. C., on the brief), for respondent.

Before HICKS, Chief Judge and SIMONS and McALLISTER, Circuit Judges.

SIMONS, Circuit Judge.

The main question to be decided is whether the income of a profit-sharing trust established by the Lincoln Electric Company for its employees, is exempt from taxation under the provisions of Internal Revenue Code, § 165(a), 26 U.S.C.A. § 165 (a). An alternative issue is whether the trust indenture creates separate trusts, one for each employee. If the petitioner is right in its main contention, the second question need not be decided...

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