EVANS, Circuit Judge.
Petitioner, a baking company, here challenges its liability for Federal income and excess profits taxes upon sums it received in 1937 from its corporate predecessor, which sums the latter was paid by flour processors in settlement of Federal Processing Taxes paid by it in 1935. The United States Tax Court held such refund settlement taxable to petitioner and determined a $3,107.22 income tax and $240.51 excess profits tax liability of taxpayer...
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