Flintkote Company v. United States

OPINION

CYNTHIA HOLCOMB HALL, Circuit Judge:

The Flintkote Company (“Flintkote”) appeals from the district court’s judgment in favor of the government following cross-motions for summary judgment in this action for refund of federal income taxes plus interest paid by Flintkote for the years 1970-73. Flintkote contests the Internal Revenue Service’s (“IRS”) partial disallowance of Flint-kote’s deduction of $3.5 million paid to settle a large number of civil antitrust treble damage actions. The parties to this action dispute whether, within the meaning of 26 U.S.C. § 162(g), the civil suits…