Southwestern Life Insurance Company, Plaintiff-Appellee-Cross-Appellant v. United States of America, Defendant-Appellant-Cross-Appellee

TUTTLE, Circuit Judge:

This appeal presents for consideration the correctness of the trial court’s judgment in a suit for refund filed by the insurance company by which judgment the trial court resolved several of the contested issues in favor of the taxpayer and the remaining issues in favor of the Commissioner. Since the parties are not content to leave the split solution where it stands, it is necessary for us to give separate consideration to each of the many points at issue in the trial court. We shall first discuss the five issues which the trial court resolved in favor of the taxpayer,…