Swedish Iron & Steel Corp. v. Edwards

GODDARD, District Judge.

This action challenges the correctness of a tax assessed and collected for the fiscal year ending April 30, 1918. The tax was assessed against Swedish Iron & Steel Corporation, a New York corporation organized in 1907, which for convenience will hereafter be referred to as corporation No. 1. The plaintiff asserts that it is the same taxpayer as corporation No. 1, and contends, in reliance upon sections 200 and 204 (b) Revenue Aet of 1918 (40 Stat. 1058, 1060), that it was over-assessed for the year in question because the Commissioner refused to deduct a net loss…