Mansfield v. United States

Plaintiffs brought this action to recover income taxes paid for the calendar year 1951 in the amount of $17,467.58 plus *581interest paid thereon together with interest on the total overpayment as required by law.1

The facts, undisputed by the parties, are as follows: Plaintiff Monte Mansfield operated a Ford automobile agency in Tucson, Arizona, as a sole proprietorship until January 1, 1948, at which time he formed a corporation ultimately known as the Monte Mansfield Investment Company, hereafter referred to as Investment. To this corporation he transferred all of the proprietorship assets,…