Rex-Hanover Mills Co. v. United States

The plaintiff sues to recover corporation income taxes in the amount of $6,180.59 assessed against the income of its predecessor in title, Rex Spinning Company, as a surtax on that company’s undistributed net income for the year 1936, and paid, with interest, by the plaintiff. The word “plaintiff,” in this opinion, is used to designate either the plaintiff or its predecessor. The plaintiff claims that if *185it bad been given the credit authorized by Section 26 (c) (1) of the Revenue Act of 1986 it would have had no taxable undistributed net income. The tax was assessed under Section 14 of the…