INTERSTATE DROP FORGE CO. v. C. I. R.

No. 14260.

326 F.2d 743 (1964)

INTERSTATE DROP FORGE COMPANY, a corporation, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Seventh Circuit.

Rehearing Denied January 29, 1964.


Attorney(s) appearing for the Case

Thomas J. Donnelly, Jr., Patrick W. Cotter, Samuel J. Recht, Milwaukee, Wis., for petitioner-appellant, Brady, Tyrrell & Bruce, Milwaukee, Wis., of counsel.

Louis F. Oberdorfer, Asst. Atty. Gen., Robert J. Golten, Atty., Tax Division, Dept. of Justice, Washington, D. C., Lee A. Jackson, Gilbert E. Andrews, Attys., Dept. of Justice, Washington, D. C., for respondent.

Before HASTINGS, Chief Judge, and KILEY and SWYGERT, Circuit Judges.


SWYGERT, Circuit Judge.

Petitioner, Interstate Drop Forge Company, a Wisconsin corporation with its principal place of business in Milwaukee, petitions this court for a redetermination of its income tax liability for the year 1957. The Commissioner of Internal Revenue assessed a tax deficiency of $15,600 based on a disallowance of a deduction of $30,000 which was taken by taxpayer as a business expense in its 1957 return. The deduction represented a payment made to...

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