Bridgeport Hydraulic Company v. Frank W. Kraemer and John J. Fitzpatrick, Collectors of Internal Revenue for the District of Connecticut

L. HAND, Circuit Judge.

This is an appeal from a judgment for the plaintiff in an action against tax collectors, brought by a corporation to recover excess profits taxes alleged to have been unlawfully collected. The plaintiff was organized in Connecticut; its first taxable year under the statute was 1940 and it filed excess profits tax returns for 1941, 1942 and 1943, in all of which it claimed as a “capital addition” the sum of $651,284.32, of which the Commissioner disallowed $501,020, on the ground that the plaintiff had received that much of the total amount before January 1, 1940, and…