Title Guarantee & Trust Co. v. Bowers

MANTON, Circuit Judge.

The tax here in question was paid as a result of an assessment of a documentary stamp tax in respect to the issue, by the appellee, of guaranteed first mortgage certificates without federal stamps affixed to them between July 1, 1925, and March 31, 1929, and again in March, 1930. Interest was demanded and paid without having been separately assessed after appellee’s claim for refund had been demanded and rejected.

Section 800, Schedule A, subd. 1, title 8, of the Revenue Acts of 1924 and 1926 (26 "U. S. C. § 901, 26 ÜSCA § 901, Schedule A (1) and note), provided for a…