New York Life Insurance v. Edwards

The Insurance Company brought suit in the District Court at New York to recover of Edwards, Collector, the alleged excessive sum demanded of it ,as income tax for the year 1913, and obtained judgment for a part. 3 Fed. ,(2d) 280. The Circuit Court of Appeals affirmed this exqept as to one item. 8 Fed. (2d) 851. Both parties are here by certiorari, and five questions require consideration. All involve the construction or application of the Revenue Act of October 3, 1913, c. 16, 38 Stat. 114, 172.. Section II G (a) imposed an annual tax of one per centum upon the net income of “ every insurance…