Baltimore & Ohio R. Co. v. Magruder

SOPER, Circuit Judge.

The question on this appeal is whether the plaintiff taxpayer, the Baltimore and Ohio Railroad Company, is entitled to a refund of $190,396.27 in corporate income and excess profits taxes for the year 1936. It paid this sum when the Commissioner of Internal Revenue disallowed a deduction of $2,525,543.91 that the taxpayer had accrued on its books for that year as excise taxes under Section 4 of the Carriers’ Taxing Act of 1935, 49 Stat. 974, 45 U.S. C.A. §§ 241 to 253. The District Court granted a motion for summary judgment on the pleadings in favor of the defendant, the…