Combined Industries, Inc. v. United States

LITTLETON, Judge.

It is clear from the facts in this case that the plaintiff is not entitled to recover. See Mahoning Investment Co. v. United States, 3 F.Supp. 622, 78 Ct.Cl. 231; Wilson & Co., Inc., v. United States, 15 F.Supp. 332, 82 Ct.Cl. _, decided January 6, 1936.

Plaintiff had no taxable income for 1923, but, on the contrary, it had a loss. In the consolidated return which the plaintiff filed for itself and the Parker Sheet Metal Works for 1923 plaintiff deducted its loss of $2,476.33 from the net income of $17,495.45 of the Parker Sheet Metal Works and remitted to the collector the…