Champaign Realty Co. v. United States

MEMORANDUM OPINION AND JUDGMENT

WEINMAN, Chief Judge.

This is a tax refund action wherein the plaintiff, The Champaign Realty Co., seeks to recover the sum of $2,965.64, representing federal corporate income taxes paid for the years 1962, 1963 and 1964 and the sum of $634.61 representing interest paid thereon plus statutory *923interest. This sum resulted from a deficiency assessed by the Commissioner of Internal Revenue as a result of the disallowance of a deduction for accrued interest on certain alleged debentures held by the corporate shareholders and the father-in-law of one of the…