California Electric Power Co. v. United States

HARRISON, District Judge.

This is an action to recover the sum of $4,549.51, alleged to have been erroneously exacted from the plaintiff, under Section 1802(a) of the Internal Revenue Code, Title 26 U.S.C.A., prior to the amendment of 1947, as a documentary stamp tax upon a certain issue of stock by plaintiff. The question for decision is whether the entire issue or only a part thereof of plaintiff’s new preferred stock constituted an original issue within the meaning of Section 1802 (a). The facts were stipulated and are substantially as follows:

Prior to the time of the recapitalization in…