Lincoln Savings and Loan Association v. Commissioner of Internal Revenue

422 F.2d 90

70-1 USTC P 9229

LINCOLN SAVINGS AND LOAN ASSOCIATION, Appellant,

v.

COMMISSIONER OF INTERNAL REVENUE, Appellee.

No. 23923.

United States Court of Appeals, Ninth Circuit.

Feb. 3, 1970, Rehearing Denied March 18, 1970.

Adam Y. Bennion (argued), of MacKay McGregor & Bennion, Los Angeles, Cal., for appellant.

David E. Carmack (argued), Atty., Dept. of Justice, Johnnie M. Walters, Asst. Atty. Gen., Tax Div., Dept. of Justice, K. Martin Worthy, Chief Counsel, IRS, Washington, D.C., for appellee.

Before ELY and HUFSTEDLER, Circuit Judges, and THOMPSON,* District judge.

THOMPSON, District Judge:

We…