National Cattle Loan Co. v. United States

SPARKS, Circuit Judge.

The only question involved in this appeal is whether the claims for refund filed for each of the years involved are sufficient for the refunding of income taxes paid by appellant upon- that part of its reported income with which it had credited itself on the accrual basis as due from Georg-e W. Armstrong & Sons but which was never paid, and which had subsequently been declared by the Mississippi court to be usurious and illegal.

Tho following statutes are pertinent:

Section 252 of the Revenue Act of 1921, c. 136, 42 Stat. 268: “That if, upon examination of any return of…