Eagle Asbestos & Packing Co., Inc. v. The United States

LARAMORE, Judge.

Plaintiff in this action seeks recovery from the United States for certain income taxes paid for the fiscal years 1956, 1957 and 1958. The basis of plaintiff’s action is that the Commissioner of Internal Revenue erroneously added the amount of $68,130.37 to plaintiff’s income for the year 1951. The Commissioner’s action was based on his determination that plaintiff had interest income for said year which resulted from a compromise and settlement of the Federal income and excess profits and renegotiation liability of plaintiff for the years 1943, 1944 and 1945. By increasing…