KALODNER, Circuit Judge.
This appeal, involving income and excess profits taxes for the years 1941, 1942 and 1943, is taken from the judgment of the District Court in favor of the Collector of Internal Revenue ("Collector") in an action for refund instituted by the plaintiff, Sharon Herald Company ("taxpayer").
The question presented is whether the taxpayer is entitled to a deduction from gross income for State tax which it paid on behalf of its bondholders...
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