VARIED INVESTMENTS, INC. v. U.S.

No. 93-3712.

31 F.3d 651 (1994)

VARIED INVESTMENTS, INC., Appellant, v. UNITED STATES of America, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided August 2, 1994.


Attorney(s) appearing for the Case

David Ackerman, Chicago, IL, argued, for appellant.

Steven Parks, Dept. of Justice, Washington, DC, argued, for appellee.

Before BOWMAN, Circuit Judge, HEANEY, Senior Circuit Judge, and BEAM, Circuit Judge.


HEANEY, Senior Circuit Judge.

Varied Investments, Inc., ("Varied") appeals the denial of its claim for a tax refund of $4,980,949.62 it paid as a deficiency assessment arising from the Internal Revenue Service's disallowance of a deduction it took under 26 U.S.C. § 461(f). Varied argued that it satisfied the requirements of section 416(f) and therefore was entitled to the deduction. We agree and reverse the judgment of the district court.

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