Industrial Rayon Corp. v. United States

This is a suit to recover interest alleged to have been erroneously assessed and collected on income and excess profits tax deficiencies for 1942 and 1943. Plaintiff also alleges a claim for additional interest due it on overassessment of excess profits tax for the year 1942.

Plaintiff’s petition sets forth five causes of action, two of which the parties have settled prior to argument and submission of the case. We therefore direct our attention to the remaining three causes of action.

The problem presented involves the interrelationship of the World War II excess profits tax and the relief and…