No, this is not a pitch for an over-the-counter purple pill.

Peter Reilly, CPA, Forbes’ man-on-the-spot, picked up on Third Circuit’s rescue of Giant Eagle’s “all events” accrual at the end of last month.

I had blogged the T. C. Memo. that disallowed Giant Eagle’s accrued deductions for gasoline discounts earned but not redeemed by big spenders in Giant Eagle’s food aisles. Here’s the story, “Ya Gotta Do It To Accrue It – Part Deux,” 7/23/14.

Third Circuit said Giant Eagle negotiated successfully the Reg. Section 1.451-4(a)(1) slalom.

Visit Mr Reilly’s blog for the skinny.

So Third Circuit, like a much more exalted source, satisfies appellant with good things, so thy youth is renewed like a Giant Eagle.