Sawyer Tanning Co. v. C. J. O'Keefe Shoe Co.

MORTON, District Judge.

This is a petition by the receiver in equity of the C. J. O’Keefe Shoe Company, praying for instructions as to the validity of a claim filed by the collector of internal revenne for additional income (or profits) taxes assessed in 1924 against the shoe company for the years 1919 and 1920. The amount claimed is $54,-836, and in addition interest at 12 per cent. The procedure follows Scott v. Western Pacific Co. (C. C. A.) 246 F. 545.

In so far as the additional tax is based on a reduction by the Commissioner of the shoe company’s inventory at the beginning of the year…