STEPHENS, Circuit Judge.
This appeal involves the question of the validity of a levy of a surtax under the Revenue Act of 1936 [c. 690, 49 Stat. 1648, 26 U.S.C.A. Int.Rev.Acts] upon the undistributed profits of the taxpayer. The taxpayer contends that it is entitled to a credit under Section 26 of the Act, which reads in part as follows:
"Sec. 26. Credits Of Corporations.
"In the case of a corporation the following credits shall be allowed to the extent...
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