American Radiator & Standard Sanitary Corporation v. The United States

DAVIS, Judge.

The only contested point in this suit for refund of income and excess profits taxes is the timeliness of plaintiff’s refund claim. The defendant does not deny that the taxes were overpáid, but it contends that recovery is now barred because the formal claim for refund came some months too late. We reject the defense and hold that plaintiff made a seasonable demand.

For the span of years beginning with 1941, plaintiff duly elected to use the “last in, first out” (“Lifo”) method of inventorying goods under Section 22(d) (“method of inventorying goods”) of the Internal Revenue Code…