Atlantic Oil Producing Co. v. United States

WHITAKER, Judge.

The plaintiff sues to recover interest on an alleged overpayment in respect of its capital stock liability for 1936. If there was an overpayment “in respect of” this capital stock tax, plaintiff is entitled to recover under section 614(a) of the Revenue Act of 1928, 45 Stat. 791, 876, 26 U.S.C.A. Int.Rev.Code § 3771(a), which provides: “Interest shall be allowed and paid upon any overpayment in respect of any internal revenue tax at the rate of 6 per centum per annum. * * * ”

On July 29, 1936, the plaintiff was contemplating dissolution. On the next day its capital stock tax…