UNITED STATES v. PUBLIC SERVICE COMPANY OF OKLAHOMA

No. 5388.

241 F.2d 18 (1957)

UNITED STATES of America, Appellant, v. PUBLIC SERVICE COMPANY OF OKLAHOMA, Appellee.

United States Court of Appeals Tenth Circuit.

January 21, 1957.


Attorney(s) appearing for the Case

Davis W. Morton, Jr., Washington, D. C. (Charles K. Rice, Robert N. Anderson and Hilbert P. Zarky, Washington, D. C., on the brief), for appellant.

Roger S. Randolph, Tulsa, Okl. (T. M. Markley, John M. Winters, Jr., Tulsa, Okl., and Ralph D. Stevenson, Chicago, Ill., on the brief), for appellee.

Before PHILLIPS, MURRAH and LEWIS, Circuit Judges.


MURRAH, Circuit Judge.

With respect to the computation of excess profits tax, Section 711(a) (1) (C) of the Internal Revenue Code of 1939, 26 U.S.C.A. Excess Profits Taxes, provided in presently material part that "* * * There shall be excluded, in the case of any taxpayer, income derived from the retirement or discharge by the taxpayer of any bond, * * * including, in case the issuance was at a premium, the amount includible in income for such year solely because...

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