Cedar Rapids Engineering Co. v. United States

GRAVEN, District Judge.

Suit for refund of federal excess profits and declared value excess profits taxes and interest thereon paid for taxpayer’s income tax year 1942, pursuant to a deficiency assessment imposed by the Commissioner of Internal Revenue upon the taxpayer and involving the question of the proper time for accruing a capital stock tax liability which arose by virtue of taxpayer’s action increasing the declared value of its capital stock after the conclusion of its capital stock tax year.

Plaintiff, hereinafter referred to as taxpayer, is an engineering company located in Cedar…