Chared Corporation, Transferee of the British-American Oil Products Company v. United States

The appellant, Chared Corporation, seeks to recover taxes paid to the United States. The issue before this Court is stated by the appellant in the following language: “Whether advances made by The British-American Oil Producing Company to its Canadian parent corporation, The British-American Oil Company, Limited were loans or dividends. The district court held that the advances were dividends as to which The British-American Oil Producing Company should have withheld tax.” Chared Corporation is the transferee and successor in interest of The British-American Oil Producing Company. The…