EARLY v. LAWYERS TITLE INS. CORPORATION

No. 4969.

132 F.2d 42 (1942)

EARLY v. LAWYERS TITLE INS. CORPORATION.

Circuit Court of Appeals, Fourth Circuit.

November 12, 1942.


Attorney(s) appearing for the Case

Samuel H. Levy, Sp. Asst. to the Atty. Gen. (Samuel O. Clark, Jr., Asst. Atty. Gen., Sewall Key and Edward H. Horton, Sp. Assts. to the Atty. Gen., Sterling Hutcheson, U. S. Atty., and John V. Cogbill, Asst. U. S. Atty., both of Richmond, Va., on the brief), for appellant.

Alexander W. Parker and Joseph F. Hall, both of Richmond, Va. (A. D. Christian, of Richmond, Va., on the brief), for appellee.

Before PARKER, SOPER, and DOBIE, Circuit Judges.


PARKER, Circuit Judge.

This is an appeal from a judgment for plaintiff in a suit instituted by a title insurance company to recover income taxes paid under protest for the years 1936, 1937 and 1938. The question presented is whether, in determining underwriting income for the years in question, the company was entitled to deduct, as unearned premiums, portions of premiums which it was required by a statute of Virginia to place in a reserve and which the statute provided...

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