Time Oil Co., a Corporation v. Commissioner of Internal Revenue

CHAMBERS, Circuit Judge.

Reference is here made to this court’s decision in Time Oil Co. v. Commissioner, 258 F.2d 237, decided the first time the case was here. This opinion starts from there.

The taxpayer almost lost its income tax deductions for its contributions to a stock bonus and profit sharing plan for its employees because of some deviations from the original written plan. However, we held the deviations were de minimis and declined to sustain the Commissioner in his contentions that the departures from plan were fatal.

There was a second issue in the first ease: In what years were the…