United States Court of Claims November 3, 1930, No. J-634 (International Textbook Co. v. United States)

LITTLETON, Judge.

It is the contention of'plaintiff that in respect of the payments to the publishing company, pursuant to the agreement of May 5, 1916, it was entitled to deduct $15,787.72 as an ordinary and necessary expense in determining consolidated net income for the year 1918, such amount being equal to 6 per cent, of the gross cash receipts of $263,128.71 for 1918.