United States Board of Tax Appeals February 18, 1936, Docket No. 77952. (Oxford Institute v. Commissioner)

lead-opinion

*1138OPINION.

ARUndell :

The issue is the deductibility as “expenses paid or incurred during the taxable year” (sec. 23(a) of the Revenue Act of 1932) of three items of $6,406, $4,980, and $410 paid during 1932 by the corporation to trustees as bonuses for its various classes of employees, which amounts were subject to be paid back to the corporation if the employees failed to