Moultrie Cotton Mills v. United States

LITTLETON, Judge.

The plaintiff in this suit seeks to recover $19,716.39, plus interest, in over-payments of its income and excess profits taxes for the years 1941, 1942 and 1944 occasioned by the recomputation of the value of its inventories for those and other years. Defendant does not contest the correctness of plaintiff’s claim, but moves for summary judgment solely on the ground that plaintiff’s claim is barred by the statute of limitation applicable to *483claims for refund, section 322(b) (1) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 322(b) (1). Plaintiff admits that if section…