United States v. Little Miami, Columbus & Xenia Railroad

This suit was brought by the United States to recover the tax of 5 per cent, imposed by the internal revenue act of June 30, 1864, upon profits earned from the first of July, 1864, to the first of December, 1869, and used in construction, or carried to the credit of certain funds. It was claimed by the United States that the defendant has earned profits which were so used during that period amounting to $326,000, on which no tax was paid.

The defences were: First, that returns were made each year, and accepted by the government, upon which taxes were assessed and paid; that no assessment has…