Arkansas Bank and Trust Company v. United States

JOHN E. MILLER, Chief Judge.

This is an action by plaintiff-taxpayer, Arkansas Bank and Trust Company, to recover $960.66 paid under protest to the United States on January 4,1962. In the plaintiff-taxpayer’s 1959 corporate tax return it showed a net operating loss and applied for a tentative carry-back adjustment to the year 1956. The agents of the Commissioner of Internal Revenue examined the 1959 income tax return and application based upon the net operating loss deduction there reflected, and reduced the net operating loss reduction by disallowing $5,000 "rental expense” elaimed by the…