New England Electric System v. United States

*721OPINION

YOCK, Judge.

The plaintiff in this action seeks the recovery of income taxes and interest paid to the United States Government with respect to plaintiffs taxable year ended December 31,1980. Plaintiff alleges that it is entitled to an investment tax credit on the fishway that it constructed on its hydroelectric dam, as provided for by sections 38 and 48 of the Internal Revenue Code. The parties filed cross-motions for summary judgment, and an oral hearing was held on June 22, 1993, at the National Courts Building in Washington, D.C.

Upon full consideration of the entire record, this…