Brad Foote Gear Works, Inc. v. United States

JONES, Chief Judge.

The plaintiff seeks to recover excess profits taxes paid for the fiscal year which ended September 30, 1944. The plaintiff says that in the fiscal year 1946 it suffered a net operating loss which it is entitled to carry back as a deduction against excess profits tax liability paid for the fiscal year 1944. The plaintiff paid an excess profits tax deficiency of $94,644.-59, and interest thereon of $45,499.41, in payments from March through July 1953. The taxpayer filed its claim for refund of these excess profits taxes on August 8,1953.

In its petition to this court,…