Abe M. Katz Co. v. United States

HOLMES, Circuit Judge.

This is an action against the Collector of Internal Revenue to recover interest paid by appellant on his excess-profits-tax deficiency for the fiscal year ending August 31, 1943. The said deficiency represented an amount as to which the appellant had deferred payment as authorized by Section 710(a) (5) of the Internal Revenue Code. 26 U.S.C. § 710(a) (5). Extensions were granted; thereafter, the taxpayer filed a bona fide application for relief, which application was denied on January 19, 1949. Prior to the denial, the taxpayer paid in full the excess-profits tax plus…