Skelly Oil Company v. United States

FINDINGS OF FACT, CONCLUSIONS OF LAW AND DECISION

DAUGHERTY, District Judge.

This case has been submitted to the Court for decision on the merits on a Joint Stipulation of Facts and the briefs of both parties.

ISSUE

The issue for determination herein is stated alternatively in the Joint Stipulation of Facts as follows:

“The only issue presented to this Court for decision herein is whether, in computing plaintiff’s liability for federal income tax for the taxable year ending December 31, 1958 under the provisions of Section 1341(a) (4) of the 1954 Internal Revenue Code, it was proper to reduce its…