J. P. Morgan & Co. v. United States

The majority say that this case must be decided as the case of Fahnestock v. United States, supra, was decided. I think it clearly appears in this case that the refund, for the interest on which plaintiffs sue, was due solely on account of the payment of the inheritance taxes. On such a refund the taxpayers are not entitled to interest; section 813 Internal Eevenue Code of 1939.

When plaintiffs, as the executors of the Satterlee estate, filed the estate tax return they claimed credit for the amount of tax shown to be due thereon, less 80 per cent of the basic tax, which they deducted as their…