UNITED STATES OF AMERICA, APPELLANT,
v.
SAFETY ENGINEERING AND SUPPLY COMPANY, INC., APPELLEE
UNITED STATES OF AMERICA, APPELLANT,
SAFETY ENGINEERING AND SUPPLY COMPANY, INC., APPELLEE
374 F.2d 885
Court of Appeals for the Fifth Circuit (1967)
Cited by 5 cases
Opinion of the Court
PER CURIAM:
The Government appeals from a judgment entered by the District Court after an adequate evidentiary hearing holding that the compensation, including the disputed bonus paid to each of two principal stockholder-officer-employees was reasonable, did not constitute constructive dividends and was therefore properly deductible by the corporate Taxpayer. 26 U.S.C.A. § 162; Treas.Reg. § 1.162-7 (b) (1) and (3) (1954).
We find the appeal and record wholly without any redeeming merit, but since we have expended the travail for submission, we dispose of it on its merits or, more accurately, the lack of them, rather than dismiss as frivolous.
Affirmed.
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Tulia Feedlot, Inc. v. United States, 513 F.2d 800 (5th Cir. 1975)
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Noga v. United States, 411 F.2d 943 (9th Cir. 1969)
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Fortuna Broom Co. v. Wirtz, 379 F.2d 327 (5th Cir. 1967)
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