Times-Picayune Publishing Co. v. Commissioner
United States Board of Tax Appeals
Expenditures made by petitioner in maintaining a chair in journalism in Tulane University for the purpose of bettering its service to the public as a news gatherer and dispenser, which were reasonably expected to bring returns to it in dollars and cents, constituted deductible items of expense under section 234(a) of the Revenue Act of 1926.
1Opinion of the Court
*278OPINION.
Love :
The sole question here involved is whether or not the annual payment by petitioner of $6,000, in the manner and for the purposes disclosed in our findings of fact, is deductible from gross income as an ordinary and necessary expense item, under section 234 (a) of the *279Revenue Act of 1926 (which is the same as section 23 (a) of the Revenue Act of 1928).
The evidence in the case clearly justifies the conclusion that petitioner was not actuated in making the payments herein described by philanthropic or charitable motives. It was a clear, cold-blooded business proposition on the part…
2Cited by1 opinion
- Times-Picayune Publishing Co. v. CommissionerUnited States Board of Tax Appeals · 1932