Court of Appeals for the Fifth Circuit September 27, 1963, 20026_1 (Swed Distributing Company v. Commissioner of Internal Revenue)

WISDOM, Circuit Judge.

This case, now before us for the second time, presents the question whether the taxpayer, Swed Distributing Company, a Florida corporation, is entitled to deduct as ordinary and necessary business expenses certain payments made to Swed and Sullivan, a partnership composed of the taxpayer’s two stockholders. The nature of the case requires close scrutiny of the record.