Pan American World Airways, Inc. v. United States

GODDARD, District Judge.

Cross-motions for summary judgment. The facts were stipulated.

Plaintiff corporation overpaid its income and declared value excess profits taxes for 1943 and 1944 in the sum of $174,298.72. By a Revenue Agent's report, dated March 15, 1951, sent to the taxpayer under date of April 20, 1951, the Internal Revenue Agent-in-charge proposed an overassessment of $174,-298.72 for the years 1943 and 1944, and a deficiency in tax of $68,685.44 for 1945 and of $2,608,482.24 for 1946.

On March 1, 1951, the plaintiff executed Form 874, A Waiver of Restrictions on Assessment and…