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AMTORG TRADING CORP. v. COMMISSIONER OF INT. REV.

No. 204.

65 F.2d 583 (1933)

AMTORG TRADING CORPORATION v. COMMISSIONER OF INTERNAL REVENUE (two cases).

Circuit Court of Appeals, Second Circuit.

May 29, 1933.

Attorney(s) appearing for the Case

Courtland Kelsey, of New York City, for petitioner.

Sewall Key and A. H. Conner, Sp. Assts. to Atty. Gen. (C. M. Charest, Gen. Counsel, Bureau of Internal Revenue, and J. M. Leinenkugel, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., of counsel), for respondent.

Before L. HAND, SWAN, and CHASE, Circuit Judges.

L. HAND, Circuit Judge.

The question at issue upon this appeal is as to the right of the taxpayer to deduct certain charges from its gross income for the years 1924 and 1925, as "ordinary and necessary expenses" under section 234 (a) (1), Revenue Act 1924, 43 Stat. 283, 26 USCA § 986 (a) (1) or as "taxes paid or accrued," under section 234 (a) (3), 26 USCA § 986 (a) (3). The Commissioner disallowed the deductions, the taxpayer appealed to the Board, which...

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