R. C. OWEN COMPANY v. UNITED STATES

No. 390-57.

180 F.Supp. 369 (1960)

R. C. OWEN COMPANY v. UNITED STATES of America.

United States Court of Claims.

February 3, 1960.


Attorney(s) appearing for the Case

William Waller, Nashville, Tenn., for plaintiff. Waller, Davis & Lansden, Nashville, Tenn., were on the brief.

Jack F. Blair, Washington, D. C., with whom was Charles K. Rice, Asst. Atty. Gen., for defendant. Abbott M. Sellers, James P. Garland and M. Carr Ferguson, Washington, D. C., were on the brief.


BARKSDALE, District Judge, sitting by designation.

This is a suit for the recovery of income taxes, in the amount of $43,680.00 claimed by R. C. Owen Company, a Tennessee corporation, to have been erroneously assessed and collected from it. The Commissioner of Internal Revenue determined that plaintiff was not entitled to deductions claimed and taken in each of three fiscal years, 1953, 1954 and 1955, as interest paid on certain of its securities called debentures...

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