New England Mut. Life Ins. v. Welch

WOODBURY, Circuit Judge.

This is an appeal from a judgment entered for the defendant in a suit brought to recover federal income taxes for the year 1934 paid under protest.

The plaintiff-appellant is a mutual life insurance company organized many years ago under the laws of Massachusetts and having its home office in the City of Boston. It is authorized to do business and does business in nearly all of the States of the United States.

For many years prior to the tax year here involved it sold ordinary life insurance policies containing provisions generally known in life insurance circles as…