Continental Bank & Trust Co. v. United States

CLANCY, District Judge.

This is an action against the United • States based upon refund claims to recover taxes paid for the fiscal year ending May 31, 1929. There are two causes of action. In the first cause of action the plaintiff seeks to recover $54,962.37 and interest upon the ground that its income was improperly taxed as that of an association, whereas it should have been taxed as income of a trust. In the second cáuse of action plaintiff seeks the recovery of $8,-279.63 and interest because of an alleged overpayment of income tax for the same fiscal year. The two causes of action will…