POSNER, Circuit Judge.
A. O. Smith Corporation appeals from an adverse judgment in a suit for refund of federal income taxes. Its appeal brings up to us the question whether the additional income tax due as a result of a recapture of investment tax credits pursuant to section 47 of the Internal Revenue Code must be paid on an estimated basis.
The Code allows a 7 percent investment tax credit to be taken in the year in which the investment is made. 26 U.S.C...
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