Commissioner v. Oswego & Syracuse R.

CHASE, Circuit Judge.

Income and profits taxes for the calendar year 1921 are involved. The facts are fully disclosed by the following quotation from the opinion of the Board of Tax Appeals:

“The parties, by their respective counsel, have stipulated that on June 14, 1922, The Delaware, Lackawanna and Western Railroad Company filed with the Collector of Internal Revenue for the Second District of New York, a consolidated income and excess profits tax return for the taxable year 1921, for and on behalf of itself and its affiliated companies, including The Oswego and Syracuse Railroad Company,…