Legal Opinion
Lockheed Corporation v. Sheila E. Widnall, Secretary of the Air Force
Court of Appeals for the Federal Circuit
Decided May 15, 1997No. 95-1025PublishedCited by 45 opinions
1Opinion of the Court
ARCHER, Chief Judge.
Lockheed Corporation (Lockheed) appeals the decision of the Armed Services Board of Contract Appeals (ASBCA or Board), ASBCA No. 36,910, 9<G3 BCA & 27,101, disallowing certain interest payments under Defense Acquisition Regulation (DAR) § 15-205.17 (1969). The Board held that the interest paid on an underpayment of state taxes was not allowable as reimbursable corporate overhead because it represented “interest on borrowings” within the meaning of DAR § 15-205.17. We reverse.
BACKGROUND
Lockheed timely filed its federal income tax and state franchise tax returns for years…
2Cases cited4 opinions
- Perrin v. United StatesSupreme Court of the United States · 1979
- Reflectone, Inc. v. John H. Dalton, Secretary of the NavyCourt of Appeals for the Federal Circuit · 1995
- Rio Hondo Memorial Hospital v. United StatesUnited States Court of Claims · 1982
- Manhattan Savings Bank v. United StatesUnited States Court of Claims · 1977
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- Insight Systems Corp., and Centerscope Technologies, Inc. v. the United States 12-863c andUnited States Court of Federal Claims · 2013
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