Maxwell, Comr. of Revenue v. . R. R.

Proceeding to recover taxes paid under protest, and alleged to have been erroneously or illegally assessed.

The Norfolk and Western Railway Company, hereafter called the defendant, duly filed with the North Carolina Commissioner of Revenue income tax returns for the years 1927, 1928, and 1929. None of these returns showed any taxable income for the specified period. On 27 October, 1930, the Commissioner of Revenue made reassessments against the defendant, upon the basis of said returns, which resulted in tax levies, with interest thereon, for the respective years, as follows:

Year Tax 1927…