Joseph Horne Co. v. United States

This case is before us on plaintiff’s motion for summary judgment.

Plaintiff, a department store in Pittsburgh, Pennsylvania, sues for income and excess profits taxes in the sum of $834,469.11, alleged to have been erroneously collected for the fiscal years ending January 31, 1942, 1943, 1944, 1945, 1946 and 1947, because the Commissioner of Internal Revenue did not allow it the benefit of the involuntary liquidation provision of the Internal Revenue Code in taking its inventories.

Under section 22 (d) (6) (A) of the Internal Revenue Code of 1939, as amended, a taxpayer is entitled to an…