WISDOM, Circuit Judge.
This case, now before us for the second time, presents the question whether the taxpayer, Swed Distributing Company, a Florida corporation, is entitled to deduct as ordinary and necessary business expenses certain payments made to Swed and Sullivan, a partnership composed of the taxpayer's two stockholders. The nature of the case requires close scrutiny of the record.
Louis Swed and John L. Sullivan formed a partnership to go into the...
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