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OTIS ELEVATOR COMPANY v. UNITED STATES

No. 495-59.

301 F.2d 320 (1962)

OTIS ELEVATOR COMPANY, a Maine Corporation, v. The UNITED STATES.

United States Court of Claims.

April 4, 1962.

Attorney(s) appearing for the Case

John C. Reid, Washington, D. C., for plaintiff. Ivins, Phillips & Barker, Washington, D. C., on the briefs.

Eugene Emerson, Washington, D. C., with whom was John B. Jones, Jr., Acting Asst. Atty. Gen., for defendant. Lyle M. Turner and Philip R. Miller, Washington, D. C., on the brief.

Norton Kern, New York City, filed brief amicus curiae on behalf of American & Foreign Power Co., Inc. Reid & Priest, Washington, D. C., on the brief.

LARAMORE, Judge.

This is a suit to recover income taxes paid by the plaintiff for the year 1950 in the amount of $53,559.06, plus interest, on the theory that the taxpayer qualifies as a Western Hemisphere trade corporation.

The sole issue in this case is whether the taxpayer is entitled to the special credit under section 26(i) (2) of the Internal Revenue Code of 1939, 64 Stat. 906, 920, 26 U.S.C.A. § 26(i) (2), which provides:

"§ 26. Credits...

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