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UNIVERSAL ATLAS CEMENT COMPANY v. COMMISSIONER

Docket No. 10470.

9 T.C. 971 (1947)

UNIVERSAL ATLAS CEMENT COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated November 25, 1947.

Attorney(s) appearing for the Case

A. C. Newlin, Esq., and Richard H. Appert, Esq., for the petitioner.

William F. Evans, Esq., for the respondent.

This proceeding involves income tax liability for the taxable year 1939. The petitioner seeks a redetermination of a deficiency asserted by the Commissioner in the amount of $19,000. The question before us is whether the sum of $100,000 paid by the petitioner in the taxable year 1939 to the State of Texas in satisfaction of the state's claim for penalties by reason of alleged violations of the Texas antitrust laws, expenses incurred...

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