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BYERLITE CORPORATION v. WILLIAMS

No. 13877.

286 F.2d 285 (1960)

BYERLITE CORPORATION, Plaintiff-Appellant, v. Parker C. WILLIAMS, District Director of Internal Revenue, Eighteenth District of Ohio, Defendant-Appellee.

United States Court of Appeals Sixth Circuit.

December 15, 1960.

Attorney(s) appearing for the Case

David R. Hertz, Hertz & Kates, and Samuel K. Walzer, Cleveland, Ohio, for appellant.

I. Henry Kutz, Atty., Dept. of Justice, Washington, D. C. (Howard A. Heffron, Acting Asst. Atty. Gen., Lee A. Jackson, Melvin L. Lebow, Attys., Dept. of Justice, Washington, D. C., and Russell E. Ake, U. S. Atty., Cleveland, Ohio, on the brief), for appellee.

Before McALLISTER, Chief Judge, POPE, Circuit Judge, and THORNTON, District Judge.

McALLISTER, Chief Judge.

Plaintiff paid income and excess profits taxes for 1949 and 1950 under protest, and brought this action to recover them. It contended that certain advances which it made to an affiliated corporation were loans; that these loans were not repaid; that they, therefore, constituted a bad debt; and that, accordingly, they were deductible, as a bad debt, from plaintiff's ordinary income, under Section 23 (k) of the Internal Revenue Code of 1939...

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