Globe Newspaper Co. v. United States

This income tax refund case is before the court on cross-motions for partial summary judgment. We have heard oral argument on the issue presented whether plaintiff is entitled to deduct, on its income tax return for its taxable year ended December 31, 1974, the entire amount of $1,544,238 in real estate taxes assessed on January 1, 1974, against plaintiff by the City of Boston for the 18-month period January 1, 1974, through June 30, 1975. For the reasons discussed below, we uphold the disallowance by the Internal Revenue Service (IRS) of $514,666 of the $1,544,238 claimed by plaintiff as a…