Indiana Department of Revenue v. American Underwriters, Inc.

NEAL, Presiding Judge.

STATEMENT OF THE CASE

Defendant-appellant Indiana Department of Revenue (Department) appeals a judgment upon a bench trial entered in the Marion Circuit Court in favor of plaintiff-appellee American Underwriters, Inc. (AU) on its complaint for refund of $330,-976.56, which amount represents an overpayment of Indiana corporation income taxes, a penalty assessed thereon, plus interest.

We affirm in part and reverse in part.

STATEMENT OF THE FACTS

To properly assess the contentions of the parties it is necessary to understand the type of organizations involved and how the…