BANK OF PALM BEACH & TRUST COMPANY v. UNITED STATES

No. 308-69.

476 F.2d 1343 (1973)

BANK OF PALM BEACH & TRUST COMPANY and Marie E. Bardsley, Executors of the Will of Chester T. Bardsley and Marie Bardsley, et al. v. The UNITED STATES.

United States Court of Claims.

April 13, 1973.


Attorney(s) appearing for the Case

Elliott Manning, New York City, attorney of record, for plaintiffs.

Richard D. Silvester, Tax Div., U. S. Dept. of Justice, Washington, D. C., with whom was Asst. Atty. Gen., Scott P. Crampton, for defendant. Gilbert E. Andrews and Theodore D. Peyser, Jr., Washington, D. C., of counsel.

Before COWEN, Chief Judge, and DAVIS, SKELTON, NICHOLS, KASHIWA, KUNZIG and BENNETT, Judges.


OPINION

KASHIWA, Judge.*

Plaintiffs are taxpayers who claim refunds of federal income taxes paid by them with respect to the calendar year 1960, plus statutory interest. They were all partners, or bear some relationship to individuals who were partners, of Salomon Bros. & Hutzler (hereinafter referred to as "Salomon"), a Wall Street brokerage firm, during Salomon's fiscal year ending September 30, 1960.

Salomon made...

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