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Zephyr Mills, Inc. v. Commissioner of Internal Revenue

279 F.2d 494, 5 A.F.T.R.2d (RIA) 1450, 1960 U.S. App. LEXIS 4567
CourtCourt of Appeals for the Third Circuit
DecidedMay 13, 1960
Docket13121
StatusPublished
Cited by7 cases

This text of 279 F.2d 494 (Zephyr Mills, Inc. v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Third Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Zephyr Mills, Inc. v. Commissioner of Internal Revenue, 279 F.2d 494, 5 A.F.T.R.2d (RIA) 1450, 1960 U.S. App. LEXIS 4567 (3d Cir. 1960).

Opinion

PER CURIAM.

The Tax Court found that advances made to the petitioner corporation represented contributions to its equity capital rather than bona fide loans and that *495 consequently they did not qualify as interest expense under Section 23(b) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 23(b).

Upon review of the record we are unable to say that the Tax Court’s finding was clearly erroneous.

The decision of the Tax Court will be affirmed.

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Cite This Page — Counsel Stack

Bluebook (online)
279 F.2d 494, 5 A.F.T.R.2d (RIA) 1450, 1960 U.S. App. LEXIS 4567, Counsel Stack Legal Research, https://law.counselstack.com/opinion/zephyr-mills-inc-v-commissioner-of-internal-revenue-ca3-1960.