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LUKENS STEEL COMPANY v. C. I. R.

No. 18752.

442 F.2d 1131 (1971)

LUKENS STEEL COMPANY, Appellee, v. COMMISSIONER OF INTERNAL REVENUE, Appellant.

United States Court of Appeals, Third Circuit.

Decided May 3, 1971.

Attorney(s) appearing for the Case

Karl Schmeidler, Tax Division, Dept. of Justice, Washington, D. C. (Johnnie M. Walters, Asst. Atty. Gen., Meyer Rothwacks, Crombie J. D. Garrett, Attys., Tax Division, Dept. of Justice, Washington, D. C., on the brief) for appellant.

Robert H. Kapp, Hogan & Hartson, Seymour S. Mintz, Joseph M. Hassett, Washington, D. C. (James F. Mulligan, Gen. Counsel, Lukens Steel Co., Coatesville, Pa., on the brief) for appellee.

Before HASTIE, Chief Judge, and McLAUGHLIN and GIBBONS, Circuit Judges.

OPINION OF THE COURT

GERALD McLAUGHLIN, Circuit Judge.

The Commissioner of Internal Revenue seeks a review of the Tax Court's decision 52 T.C. 764, allowing Lukens Steel Co., an accrual basis taxpayer, a business expense deduction for amounts which it credited to its contingent liability account for the years 1962 and 1963.

The majority of Lukens Steel Co. employees have been represented by the United Steelworkers...

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