In Re Terminal Land Co.

This is an appeal by the Terminal Land Company from an order of the Oklahoma Tax Commission denying its claim for refund of certain income taxes paid for the year 1938.

The Income Tax Law then in force was article 6, ch. 66, S. L. 1935. The present claim was filed pursuant to sections 3 and 28 thereof, which authorized refund of taxes erroneously paid.

The alleged excessive payment for which the claim was filed came about by reason of the taxpayer’s failure to deduct from its gross income certain losses resulting from alleged investments in property located in the State of Kansas.

According to…