BURNHAM CORP. v. C.I.R.

No. 856, Docket 88-4157.

878 F.2d 86 (1989)

BURNHAM CORPORATION, Petitioner-Appellee, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant.

United States Court of Appeals, Second Circuit.

Decided June 27, 1989.


Attorney(s) appearing for the Case

John J. Boyle, Atty., Tax Div., Dept. of Justice, Washington, D.C. (William S. Rose, Jr., Asst. Atty. Gen., Gary R. Allen, Richard Farber, Dept. of Justice Attys., Washington, D.C., of counsel), for respondent-appellant.

Stanley E. Bulua, White Plains, N.Y. (Cuddy & Feder, White Plains, N.Y., of counsel), for petitioner-appellee.

Before PIERCE and ALTIMARI, Circuit Judges, and KELLEHER, District Judge.


PIERCE, Circuit Judge:

Appellant Commissioner of Internal Revenue ("the Commissioner") appeals from a decision of the Tax Court (Williams, Judge), (opinion reported at 90 T.C. 953), which held that appellee Burnham Corporation ("Burnham") was entitled to deduct as a fixed liability the estimated sum of monthly payments to be made until the death of the payee pursuant to an agreement settling...

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