Colgate-Palmolive-Peet Co. v. United States

BIGGS, Circuit Judge.

The question presented for our determination by the appeals at bar is the construction of Section 602%, c. 277 of the Revenue Act of 1934, 48 Stat. 680, 26 U.S.C.A. Internal Revenue Acts page 778.

The appellant makes soaps and other products and uses coconut oil, palm oil and other oils in their manufacture. On May 10, 1934, the effective date of Section 602%, it had on hand over 78,000,000 pounds of coconut and other oils referred to in the statute which had received one or more domestic processings. After the effective date of the statute these oils were subjected to…