BOYLAN-PEARCE, INC. v. JOHNSON

No. 449.

126 S.E.2d 492 (1962)

257 N.C. 582

BOYLAN-PEARCE, INC. v. William A. JOHNSON, Commissioner of Revenue of the State of North Carolina.

Supreme Court of North Carolina.

July 10, 1962.


Attorney(s) appearing for the Case

T. W. Bruton, Atty. Gen., and Peyton B. Abbott and Lucius W. Pullen, Asst. Attys. Gen., for defendant-appellant.

Lassiter, Leager & Walker, Raleigh, for plaintiff-appellee.


BOBBITT, Justice.

Based solely on a general exception "(t)o the signing of the foregoing judgment," appellant assigns as error "the action of the trial court in finding that the payments made to the widow of Dallas Holoman did not constitute gifts and subject to gift tax but were ordinary and necessary business expenses deductible by plaintiff corporation for corporate income tax purposes, and in signing the judgment as appears of record."

Plaintiff's allegation...

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