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E. W. EDWARDS & SONS v. UNITED STATES

Civ. No. 6154.

162 F.Supp. 97 (1957)

E. W. EDWARDS & SONS, Plaintiff, v. UNITED STATES of America, Defendant.

United States District Court N. D. New York.

August 9, 1957.

Attorney(s) appearing for the Case

Moser, Johnson & Reif, Rochester, N. Y., for plaintiff. Bryon Johnson, Jr., and Hastings S. Morse, Rochester, N. Y., of counsel.

Theodore F. Bowes, U. S. Atty., Syracuse, N. Y., John H. Stull, Acting Asst. Atty. Gen., James P. Garland, Frederic G. Rita, Attys., Dept. of Justice, Washington, D. C., for the United States.

BRENNAN, Chief Judge.

The only question here is whether the sum of $100,000 paid by the corporate taxpayer to the trustees of a trust owning a majority of the stock of the taxpayer corporation to enable them to compromise a pending litigation against them is deductible from gross income as an ordinary and necessary expense of carrying on its trade or business under the provisions of Section 23(a) (1) (A) Internal Revenue...

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