AMERICAN BEMBERG CORPORATION v. UNITED STATES

No. 12335.

253 F.2d 691 (1958)

AMERICAN BEMBERG CORPORATION, Appellant, v. UNITED STATES of America.

United States Court of Appeals Third Circuit.

Decided March 14, 1958.

Petition for Rehearing Denied April 22, 1958.


Attorney(s) appearing for the Case

Robert Ash, Washington, D. C. (Carl F. Bauersfeld, Washington, D. C., George Heftler, Union City, N. J., on the brief), for appellant.

Joseph Kooner, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, I. Henry Kutz, Sheldon I. Fink, Attorneys, Department of Justice, Washington, D. C., on the brief), for appellee.

Before GOODRICH, McLAUGHLIN and HASTIE, Circuit Judges.


HASTIE, Circuit Judge.

American Bemberg Corporation is a Delaware corporation and an accrual basis taxpayer. This corporation, which we shall call Bemberg or the taxpayer, appeals from a judgment of a district court denying its claim for a refund of income and excess profits taxes for 1940. The principal issue is whether the taxpayer's originally contingent obligation to pay interest on certain advances became so definite...

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