UNIVERSAL CASTINGS CORPORATION v. C. I. R.

No. 13619.

303 F.2d 620 (1962)

UNIVERSAL CASTINGS CORPORATION, an Illinois corporation, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Seventh Circuit.

May 22, 1962.


Attorney(s) appearing for the Case

Marshall G. Sampsell, Robert A. Helman, Chicago, Ill., Isham, Lincoln & Beale, Chicago, Ill., of counsel, for petitioner.

Louis F. Oberdorfer, Asst. Atty. Gen., Ralph A. Muoio, Atty., Tax Division, Lee A. Jackson, Harry Baum, Attys., Dept. of Justice, Washington, D. C., for respondent.

Before DUFFY, SCHNACKENBERG and SWYGERT, Circuit Judges.


SCHNACKENBERG, Circuit Judge.

By its petition, Universal Castings Corporation, an Illinois corporation, asks us to review a decision of the Tax Court of the United States that there were deficiencies in its income tax payments for the taxable years 1953, 1954 and 1955.

There appears little conflict in the evidentiary facts, some of which were stipulated. The contested issue is whether the Tax Court erred in finding as not deductible for federal income tax...

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