In Re Union Electric Company of Missouri

Respondent, the Union Electric Company of Missouri, is a Missouri corporation. As such it filed income tax returns for the years 1937 and 1938. Certain items of gross income, hereinafter more particularly described, were omitted from these returns, it being the contention of the taxpayer that they were not taxable. The assessor, as directed by the auditor, made additional assessments aggregating $6,990,813.90 covering these items and a tax was assessed thereon in the sum of $95,058.74. In due time respondent instituted two suits in the circuit court to abate the additional assessments as…