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JACK'S COOKIE CO. v. UNITED STATES

No. 77-2210.

597 F.2d 395 (1979)

JACK'S COOKIE COMPANY, Appellee, v. The UNITED STATES of America, Appellant.

United States Court of Appeals, Fourth Circuit.

Decided April 25, 1979.

Attorney(s) appearing for the Case

Timothy B. McBride, Dept. of Justice, Washington, D. C. (M. Carr Ferguson, Asst. Atty. Gen., Gilbert E. Andrews, Ann Belanger Durney, Joseph L. Liegl, Tax Div., Dept. of Justice, Washington, D. C., Harold M. Edwards, U. S. Atty., Asheville, N. C., on brief), for appellant.

George R. Hodges, Charlotte, N. C. (James O. Moore, Moore & Van Allen, Charlotte, N. C., on brief), for appellee.

Before BRYAN, Senior Circuit Judge, BUTZNER, Circuit Judge, and FIELD, Senior Circuit Judge.

FIELD, Senior Circuit Judge:

On its income tax return for the year ending October 2, 1970, Jack's Cookie Company ("Jack's") claimed a business expense deduction in the amount of $191,720.92 for cash disbursements made during that year under the terms of a written lease for an industrial building. The Internal Revenue Service disallowed $20,479.08 of the deduction, which had the result of reducing taxpayer's 1970 net operating loss and increasing by $9,829.96 Jack...

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