Jones v. Johnson

HUXMÁN, Circuit Judge,

delivered the opinion of the court.

Plaintiffs, Trustees of the Johnson Ice Cream Company, instituted this action against the Collector of Internal Revenue in the United States District Court for the Western District of Oklahoma, to recover interest paid on a deficiency in excess profits tax for the year 1942. The material facts were stipulated and may be summarized as follows:

The Ice Cream Company, since dissolved, filed its excess profits tax return on March 15, 1943, showing a liability of $13,449.62, from which was deducted $4,478.72, the “amount deferred by reason of…