NEW ENGLAND MUT. LIFE INS. CO. v. UNITED STATES

No. K-420.

52 F.2d 1006 (1931)

NEW ENGLAND MUT. LIFE INS. CO. v. UNITED STATES.

Court of Claims.

October 20, 1931.


Attorney(s) appearing for the Case

Guy Patten, of Washington, D. C. (A. R. Serven and John W. Smith, both of Washington, D. C., on the brief), for plaintiff.

Lisle A. Smith and Edward H. Horton, both of Washington, D. C., and Charles B. Rugg, Asst. Atty. Gen., for the United States.

Before BOOTH, Chief Justice, and LITTLETON, WHALEY, WILLIAMS, and GREEN, Judges.


On Demurrer.

LITTLETON, Judge.

In this suit, plaintiff seeks to recover $211,618.91, together with interest, on account of overpayments of income tax for 1921, 1922, and 1923, on the ground that the Commissioner of Internal Revenue in computing the income for said years reduced the deduction from gross income of 4 per cent. of the mean of its reserve funds required by law to be held at the beginning and end of the taxable year by the amount of interest received...

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