Taylor-Lockwood Co. v. United States

LITTLETON, Judge.

This suit was instituted to recover $5,-468.08, excess profits tax alleged to have been erroneously and illegally collected, with interest. The basis of the claimed overpayment is that the Commissioner of Internal Revenue in his determination and computation of profits tax for the period January 1 to June 30, 1917, under sections 201 and 207 •of the Revenue Act of October 3, 1917 (40 Stat. 303), prorated the invested capital .of $300,000 and also prorated the specific exemption, and determined the profits tax credit to be $12,000'. Plaintiff insists that under the decision of…