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DAVID R. WEBB CO., INC. v. C.I.R.

No. 82-1201.

708 F.2d 1254 (1983)

DAVID R. WEBB COMPANY, INC., Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided May 27, 1983.

Attorney(s) appearing for the Case

Richard E. Schneyer, Walter, Conston, Schurtman & Gumpel, New York City, for petitioner-appellant.

Stanley S. Shaw, Jr., Dept. of Justice, Tax Div., Washington, D.C., for respondent-appellee.

Before WOOD and ESCHBACH, Circuit Judges, and SWYGERT, Senior Circuit Judge.

ESCHBACH, Circuit Judge.

The issue in this case is whether the taxpayer, David R. Webb Company, Inc., is entitled to deduct certain pension payments under § 404(a) of the Internal Revenue Code of 1954. The Tax Court held that the payments are non-deductible capital expenditures. Agreeing with the Tax Court's conclusion, we affirm.

I. BACKGROUND

For over 80 years there has been a business in Edinburg, Indiana, engaged in the manufacture and sale...

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