Maas & Waldstein Co. v. United States

The petitioner seeks to recover interest on an overpayment made June 20,1918, on account of income and excess profits taxes assessed for the year 1917, which was refunded during 1922. The Court of Claims denied relief and we are asked to reverse this action.

The Revenue Act of 1917, 40 Stat. 300, 303, 304, 307, laid an income tax; also a tax upon excess profits equal to designated percentages of the net income, after making deductions therefrom as stated in i§ 203. The amount of such deductions depended upon invested capital, prewar operations, etc.

The provisions of that Act here specially…