Guaranty Trust Co. Of New York v. United States

SWAN, Chief Judge.

This is an action by the executor of a decedent’s estate to recover the sum of $2,603.29, being interest at the rate of 6% per annum from January 18, 1939 to June 19, 1947 on a refund of $5,153.33 received by the executor from the Commissioner of Internal Revenue on the last mentioned date. The plaintiff contends that the refund represents an overpayment of the federal estate tax paid on January 18, 1939 and that section 3771(a) of the Internal Revenue Code requires the payment of interest. 1 The defendant contends that the refund represents an allowance of a credit against…