Pilliod Lumber Co. v. Commissioner

MOORMAN, Circuit Judge (dissenting).

I cannot concur. The statute says that a corporation shall make a return stating specifically the items of its gross income^ and the deductions and credits allowed, and that the return shall be sworn to by the president or other principal officer, and by the treasurer or assistant treasurer. Until there has been a substantial compliance by the corporation with these requirements of the statute, there is no return — and hence limitation cannot begin to run. The report which appellant filed purported to show income, with deductions and credits, but was not…