Budd Co. v. United States

VAN DUSEN, District Judge.

This is a suit for refund of plaintiff’s 1947 federal corporation income tax involving (a) the amount of plaintiff’s net operating loss for the year 1946 available for carry-over to 1947, (b) defendant’s contention that a refund of 1944 federal excess profits tax, as a result of the 1946 loss, which refund was received in 1947, should be included in taxable income in either 1946 or 1947, and (c) defendant’s contention that the statute of limitations bars plaintiff’s claim as to amounts paid into the Collector’s suspense account prior to filing of the 1947 return,…