Delmo Housing Corp. v. Finnegan

HULEN, District Judge.

Defendant assessed and collected from plaintiff, for the taxable year 1946 and three-quarters of 1947, $242.40 under Federal Insurance Contributions Act, Social Security Act. Plaintiff now seeks recoupment of tax paid on ground that it is exempt under Section 1426(b) (8) of the Internal Revenue Code, 26 U.S.C.A. § 1426 (b) (8)1 as a corporation (a) organized and operating exclusively for charitable and ■ educational purposes,, and (b) no part of its net earnings inures to any private shareholder or individual.

On January 16, 1946, plaintiff acquired from the Government by…