Lundy Packing Company v. United States

OPINION and ORDER

LARKINS, District Judge:

SUMMARY

This cause comes before the Court as a suit for the recovery of income tax and interest allegedly overpaid by plaintiff for the taxable year ending November 3, 1963, in the amount of $13,333.89 plus statutory interest from the date of payment. The question presented by the action is whether amounts accrued by plaintiff to employee accounts under a sick pay plan instituted by plaintiff on November 1, 1962, are ordinary and necessary business expenses deductible when accrued under Section 162(a) of the Internal Revenue Code of 1954 or whether the…