Opinion
Nos. 10911, 10912.
Argued February 20, 1953.
Decided March 6, 1953.
On Petition for Review of the Decisions of the Tax Court of the United States.
Hilbert P. Zarky, Washington, D.C. (Charles S. Lyon and H. Brian Holland, Asst. Attys. Gen., Ellis N. Slack, Lee A. Jackson and Hilbert P. Zarky, Sp. Assts. to Atty. Gen., on the brief), for petitioner.
Thomas Reath, Philadelphia, Pa. (Calvin H. Rankin, Frederick E.S. Morrison and Drinker, Biddle Reath, Philadelphia, Pa., on the brief), for respondent.
Before KALODNER, STALEY and HASTIE, Circuit Judges.
The Tax Court has allowed respondent, a taxpayer, certain amortization deductions claimed to be authorized by a closing agreement. Under the facts as stipulated the Tax Court, 17 T.C. 516, has properly construed and applied the closing agreement. The decisions will be affirmed.