Cinergy Corp. v. United States

OPINION

ALLEGRA, Judge.

This tax refund suit is brought by Cinergy Corporation (Cinergy or plaintiff) to recover taxes paid by PSI Resources, a wholly owned subsidiary, and is before the court following a trial in Washington, D.C. Three distinct issues—all apparently with industry-wide significance—are presented. To resolve them, the court must explore the intersection of the complex worlds of Federal income taxation and public utility regulation. On this journey, the court’s task is to follow the statutory map drawn by the Congressional cartographers, otherwise known as the Internal Revenue…