Workingmen's Loan Ass'n v. United States

MAGRUDER, Circuit Judge.

Appellant taxpayer was incorporated in 1888 by special act of the Massachusetts legislature for the purpose of lending money with or without security, and is presently qualified and licensed under the Massachusetts Small Loan Act, Mass.G.L. (1932) c. 140, §§ 96-114. It sued in the court below to recover back the amount paid for the year 1937 as personal holding company surtax imposed under § 351 of the Revenue Act of 1936, 49 Stat. 1648, as amended by § 1 of the Revenue Act of *3601937, 50 Stat. 813, 26 U.S.C.A. Int.Rev. Acts, page 936.1

Admittedly, the taxpayer falls…