GEORGE S. COLTON ELASTIC WEB CO. v. UNITED STATES

No. 3614.

116 F.2d 202 (1940)

GEORGE S. COLTON ELASTIC WEB CO. v. UNITED STATES.

Circuit Court of Appeals, First Circuit.

December 9, 1940.


Attorney(s) appearing for the Case

Bennett Sanderson, of Boston, Mass. (J. J. Sullivan and Hale, Sanderson, Byrnes & Morton, all of Boston, Mass., on the brief), for appellant.

Eugene E. Angevine, of Washington, D. C. (Samuel O. Clark, Jr., J. Louis Monarch, and Helen R. Carloss, all of Washington, D. C., and Edmund J. Brandon and C. Keefe Hurley, both of Boston, Mass., on the brief), for appellee.

Before MAGRUDER and MAHONEY, Circuit Judges, and SWEENEY, District Judge.


MAGRUDER, Circuit Judge.

This action was brought for the recovery of alleged overpayments of income and excess profits taxes for the calendar year 1920. A written agreement of the parties1 has suspended the running of the statute of limitations.

The facts were stipulated below. The appellant is a Massachusetts corporation which kept its books of account and records and prepared its returns of net income on the accrual basis of...

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