Commissioner of Internal Revenue v. Krein Chain Co.

ALLEN, Circuit Judge.

The question presented herein is whether or not the statute of limitations bars the assessment of the deficiency determined by the Commissioner against the respondents for the fiscal year ended June 30, 1920. Upon that point the following facts were agreed:

On May 15,1920, in accordance with previously existing practice, the Cleveland Chain & Manufacturing Company filed its individual ineome and excess profits tax return for the calendar year 1919. The total tax upon the net income therein shown was paid in due course.

*425Subsequently the Commissioner ruled that the Cleveland…