United States Tax Court March 30, 1948, Docket No. 13163 (Tavannes Watch Co. v. Commissioner)

lead-opinion

OPINION.

Oppee, Judge:

For the years prior to those in issue, respondent raised no objection to petitioner’s deduction of contributions made by it to Tavannes Associates, Inc. However, upon the remodeling of the statutes relating to employee pension and profit-sharing trusts, the deductions were disallowed because the contributions were made to a corporation and not a trust.