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Colt Indus. v. United States

Citation: 17 ELR 20962
No. No. 614-84T, 11 Cl. Ct. 140/25 ERC 1283/(Cl. Ct., 10/23/1986)

The court rules that civil penalties assessed against a taxpayer pursuant to §309(d) of the Federal Water Pollution Control Act (FWPCA) and §113(b) of the Clean Air Act (CAA) constitute a "fine or similar penalty paid to a government for the violation of [a] law" and therefore are not deductible under Internal Revenue Code §162(a) as trade or bu...

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