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Colt Indus. v. United States

Citation: 19 ELR 21450
No. No. 89-1165, 880 F.2d 1311/30 ERC 1179/(Fed. Cir., 07/24/1989) Aff'd

The court rules that civil penalties assessed under the Federal Water Pollution Control Act (FWPCA) and Clean Air Act are not deductible as ordinary business expenses under the Internal Revenue Code....

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