Cameron Iron Works, Inc. v. United States

This action for refund of federal income taxes, plus statutory interest thereon, is before the court on cross-motions for summary judgment. Refunds are claimed by plaintiff, Cameron Iron Works, Inc., for the taxable years ended June 30, 1967, 1968, 1972, 1973, and 1974, based on an asserted increase in the amount of investment tax credit due to adjustments made after federal income tax returns for these years were filed. We hold that no increase in plaintiffs investment credit is allowable because of these adjustments and that plaintiff is not entitled to a refund.

Plaintiff is a multinational…