Tennessee Products & Chemical Corporation v. United States

Tennessee Products & Chemical Corporation, plaintiff-appellant, brought an action against United States, in the District Court for the Middle District of Tennessee, to recover approximately $29,-000 for an overpayment of income taxes alleged to have been erroneously and illegally collected from the appellant.

The appellant corporation claimed that its former president, W. J. Cummins, was indebted to it in the amount of about $74,000, growing out of a 1931 agreement or action of the corporation reducing the salary of Mr. Cummins. It is the position of the appellant that this debt became…