Railroad Supply Co. v. Burnet

MARTIN, Chief Justice.

This proceeding involves income and excess profits taxes for the years 1918, 1919, and 1920. It calls for a review of an order of the Board of Tax Appeals sustaining a finding of the Commissioner of Internal Revenue, which denied special assessment to appellant under sections 327 and 328 of the Revenue Act of 1918 (40 Stat. 1057,1093).

Section 326 (a) of the aet*(40 Stat. 1092) provides in general for the methods of determining the “invested capital” of a corporation as intended by title 3, War-Profits and. Excess Profits Tax (40 Stat. 1088). In section 327 (d) provision…