FIRST FED. SAV. & LOAN ASS'N OF BRISTOL v. U. S.

No. 147-79T.

660 F.2d 767 (1981)

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF BRISTOL v. The UNITED STATES.

United States Court of Claims.

September 23, 1981.


Attorney(s) appearing for the Case

John Y. Merrell, McLean, Va., Atty. of record, for plaintiff; John Y. Merrell, Jr. and Timothy J. Callahan, McLean, Va., of counsel.

Israel D. Shetreat, Washington, D. C., with whom was Acting Asst. Atty. Gen., John F. Murray, Washington, D. C., for defendant; Theodore D. Peyser and Donald H. Olson, Washington, D. C., of counsel.

Before FRIEDMAN, Chief Judge, and NICHOLS and KUNZIG, Judges.


ON DEFENDANT'S MOTION FOR SUMMARY JUDGMENT AND PLAINTIFF'S CROSS-MOTION FOR SUMMARY JUDGMENT

NICHOLS, Judge.

This is a suit by a savings and loan association described in Section 593 of the Internal Revenue Code of 1954, to recover overpayment of income taxes for 1975 and 1976, resulting from inclusion in income of rentals on foreclosed property, as required by defendant. The issue is the proper interpretation of § 595 of the Code and the validity of...

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