ANCHOR COUPLING COMPANY v. UNITED STATES

No. 17834.

427 F.2d 429 (1970)

ANCHOR COUPLING COMPANY, Inc., Plaintiff-Appellee, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Rehearing Denied July 31, 1970.


Attorney(s) appearing for the Case

Thomas A. Foran, U. S. Atty., Chicago, Ill., Johnnie M. Walters, Asst. Atty. Gen., Stephen H. Hutzelman, Atty., Tax Division, Meyer Rothwacks, Crombie J. D. Garrett, Attys., Dept. of Justice, Washington, D. C., for appellant.

Harry Thom, Patrick W. O'Brien, Arthur S. Rollin, George V. Bobrinskoy, Jr., Chicago, Ill., Mayer, Friedlich, Spiess, Tierney, Brown & Platt, Chicago, Ill., of counsel, for appellee.

Before SWYGERT, Chief Judge, CUMMINGS, Circuit Judge, and GRANT, District Judge.


SWYGERT, Chief Judge.

This is a suit for refund of $382,353.12, representing taxes and interest which the Anchor Coupling Company, Inc. paid after the Commissioner of Internal Revenue disallowed a $600,000 deduction on taxpayer's federal income tax return for its fiscal year ending June 30, 1962. The issue is whether the district court correctly ruled that the $600,000 paid by taxpayer in settlement of litigation seeking specific performance of an alleged contract...

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