This appeal presents a single point of narrow compass, namely, whether payments by the taxpayer in the amount of $25,000, in the year 1950 are deductible as ordinary and necessary expenses of carrying on its business. Sec. 23(a) (1) (A) of Internal Revenue Code of 1939 as amended, 26 U.S.C.A. § 23(a) (1) (A).
There is no dispute as to the facts. The taxpayer files its tax returns on an accrual...
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