United States Paper Exports Ass'n v. Bowers

SWAN, Circuit Judge.

This action seeks to recover income taxes alleged to have been wrongfully exacted from United States Paper Exports Association, a New York corporation, which for brevity will hereafter be referred to as United. Originally, another plaintiff, American Paper Exports, Inc., hereafter referred to as American, was joined with United in the action. American had been organized to take over the assets and liabilities of United, and it did so as of June 29, 1918. On the same date it acquired all the shares of the capital stock of United. A consolidated return for the calendar year…