(DOWNLOAD) "Oklahoma High School Athletic Association of State of Oklahoma v. Bray" by United States Court of Appeals Tenth Circuit # eBook PDF Kindle ePub Free
eBook details
- Title: Oklahoma High School Athletic Association of State of Oklahoma v. Bray
- Author : United States Court of Appeals Tenth Circuit
- Release Date : January 12, 1963
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 74 KB
Description
This is a typical "thin corporation" case. The question is whether payments by a corporation to holders of its debenture notes are interest and for federal income tax purposes deductible under § 163(a) of the Internal Revenue Code of 1954, 26 U.S.C. § 163(a). The District Director of Internal Revenue ruled that the payments were dividends rather than interest and assessed a deficiency which the corporation paid and sued to recover. The trial court sustained the Director and dismissed the action.
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