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HAMMOND LEAD PRODUCTS, INC. v. C. I. R.

No. 17783.

425 F.2d 31 (1970)

HAMMOND LEAD PRODUCTS, INC., Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Seventh Circuit.

Rehearing Denied April 30, 1970.

Attorney(s) appearing for the Case

Owen W. Crumpacker, Hammond, Ind., Lester M. Ponder, Anton Dimitroff, Indianapolis, Ind., for petitioner-appellant, Barnes, Hickam, Pantzer & Boyd, Indianapolis, Ind., Crumpacker & Abrahamson, Hammond, Ind., of counsel.

Johnnie M. Walters, Asst. Atty. Gen., Tax Division, Michael L. Paup, Atty., U. S. Dept. of Justice, Washington, D. C., Meyer Rothwacks, Elmer J. Kelsey, Attys., Dept. of Justice, Washington, D. C., for appellee.

Before CUMMINGS and KERNER, Circuit Judges, and MORGAN, District Judge.

CUMMINGS, Circuit Judge.

The sole question raised on this appeal is whether the Tax Court correctly found that "reasonable compensation" for executive officer William Wilke, Jr. was substantially less than the amounts Taxpayer corporation had deducted from its taxable income as ordinary and necessary business expenses.2

Taxpayer Hammond Lead Products, Inc. is located in Hammond, Indiana. It is engaged in the production of red and...

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