Gooch Milling & Elevator Co. v. United States

LITTLETON, Judge.

Plaintiff seeks to recover an overpayment of $7,935.58 income tax for 1935 on account of certain inventory adjustments which *477were made in its returns for the fiscal years ended June 30, 1935, and June 30,1936. The principal question involved is as to the applicability of Section 820 of the Revenue Act of 1938, 52 Stat. 447, 581, Section 3801 of the Internal Revenue Code, 26 U.S.C.A. Int.Rev.Code, § 3801, which provides for mitigation of inequities under the income tax laws caused by the statute of limitations and other provisions which would prevent equitable adjustment and…