CUDAHY, Circuit Judge.
The issue on this appeal is whether appellant bank realized income under the tax benefit rule when personal property taxes it had paid on behalf of its shareholders and deducted from its income for federal income tax purposes in 1972 were subsequently refunded in 1973. The district court held, on facts stipulated by the parties, that the refunded taxes were income. We affirm.
Plaintiff-appellant, First Trust and Savings Bank of Taylorville...
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