WOODBURY FARMS & REALTY CORP. v. UNITED STATES

No. 261-58.

278 F.2d 333 (1960)

WOODBURY FARMS & REALTY CORPORATION v. UNITED STATES.

United States Court of Claims.

May 4, 1960.


Attorney(s) appearing for the Case

John H. Alexander, New York City, for plaintiff. Albin B. Voegele, New York City, and Mudge, Stern, Baldwin & Todd, New York City, on the brief.

June A. Murray, Washington, D. C., with whom was Asst. Atty. Gen. Charles K. Rice, for defendant. Lyle M. Turner and Philip R. Miller, Washington, D. C., on the brief.


JONES, Chief Judge.

The taxpayer is seeking to recover personal holding company taxes paid for the years 1951 and 1953. The facts have been stipulated. The issue here is whether the taxpayer, in computing its personal holding company subchapter A net income,1 was entitled under § 505 of the Internal Revenue Code of 1939, 26 U.S.C.A. § 505,2 to deduct the entire alternative tax paid in these two years...

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