Aluminum Co. of America v. United States

GIBSON, District Judge.

By its petition plaintiff seeks to recover income and excess profits taxes for the year 1920, with interest, which it claims were erroneously assessed against it.

The basic question involved is whether supplies, not to become a part of the finished product, were properly included by *812the plaintiff in its inventory at the end of the year 1920 at market, then less than cost. The taxpayer inventoried all the materials on hand at that time which were used by it in the manufacture of its products at cost or market, whichever was less, and based its return upon that inventory.…