MEDCO PRODUCTS CO., INC. v. C. I. R.

No. 74-1811.

523 F.2d 137 (1975)

MEDCO PRODUCTS CO., INC., Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Tenth Circuit.

Decided September 11, 1975.

Rehearing Denied October 24, 1975.


Attorney(s) appearing for the Case

Lowry McKee, Tulsa, Okl., for petitioner-appellant.

Robert G. Burt, Tax Div., Dept. of Justice, Washington, D. C. (Scott P. Crampton, Asst. Atty. Gen., Washington, D. C., Gilbert E. Andrews and Jonathan S. Cohen, Tax Div., Dept. of Justice, Washington, D. C., on the brief), for respondent-appellee.

Before LEWIS, Chief Judge, and HILL and BARRETT, Circuit Judges.


BARRETT, Circuit Judge.

Medco Products Co., Inc., (Medco) appeals a decision of the United States Tax Court upholding a deficiency in its federal income taxes for 1966 and 1967.

Medco was incorporated in Oklahoma on April 1, 1955.1 It is engaged in the marketing of electrical therapeutic equipment and related products which are sold primarily to the medical profession. Medco has owned...

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