Indianapolis Glove Co. v. United States

*817MAJOR, Circuit Judge.

This is an appeal from a judgment of the District Court in an action to recover income taxes in the amount of $10,681.44, with interest thereon, alleged to have been overpaid by appellee for the calendar year 1929; a claim for refund having been disallowed by the Commissioner of Internal Revenue. The applicable statute and regulation is section 23(a) of the Revenue Act of 1928, 45 Stat. 799, 26 U.S.C.A. § 23 and note, and Article 128 of Regulations 74:

Section 23(a):

“In computing net income there shall be allowed as deductions:

“(a) Expenses. All the ordinary and necessary…