Legal Opinion
Indopco, Inc. v. Commissioner
Supreme Court of the United States
Decided February 26, 1992No. 90-1278PublishedCited by 1,283 opinions
1Opinion of the CourtJustice Blackmun
In this case we must decide whether certain professional expenses incurred by a target corporation in the course of a friendly takeover are deductible by that corporation as “ordinary and necessary” business expenses under § 162(a) of the Internal Revenue Code.
I
Most of the relevant facts are stipulated. See App. 12, 149. Petitioner INDOPCO, Inc., formerly named National Starch and Chemical Corporation and hereinafter referred to as National Starch, is a Delaware corporation that manufactures and sells adhesives, starches, and specialty chemical products. In October 1977, representatives of…
2Cases cited24 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Commissioner v. HeiningerSupreme Court of the United States · 1943
- Interstate Transit Lines v. CommissionerSupreme Court of the United States · 1943
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3Cited by1,283 opinions
- HIGBEE v. COMMISSIONER OF INTERNAL REVENUEUnited States Tax Court · 2001
- Centex Corp. v. United StatesCourt of Appeals for the Federal Circuit · 2005
- Shea v. CommissionerUnited States Tax Court · 1999
- Newark Morning Ledger Co. v. United StatesSupreme Court of the United States · 1993
- FPL Group, Inc. v. CommissionerUnited States Tax Court · 2000
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