(DOWNLOAD) "Colt Industries Inc. v. United States" by United States Court of Appeals for the Federal Circuit # eBook PDF Kindle ePub Free

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eBook details

• Title: Colt Industries Inc. v. United States
• Author : United States Court of Appeals for the Federal Circuit
• Release Date : January 24, 1989
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 61 KB

Description

MAYER, Circuit Judge On cross-motions for partial summary judgment, the United States Claims Court, 11 Cl. Ct. 140, 58 A.F.T.R.2d (P-H) 6057 (1986), granted the government's motion and held that civil penalties assessed under the Clean Water Act, 33 U.S.C. § 1319(d), and the Clean Air Act, 42 U.S.C. § 7413(b), against Colt's affiliated subsidiary, Crucible, Inc., constitute a ""fine or similar penalty paid to a government for the violation of any law"" for which a deduction as an ordinary business expense is barred by section 162(f) of the Internal Revenue Code. We affirm. Background The protracted events leading to suit are fully set out in the trial court's memorandum of decision. There is no dispute over material facts or that summary disposition of Count I of the complaint, at issue here, was appropriate.* Consequently, we recount only those facts that are necessary to our discussion.

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