SOCONY-VACUUM OIL CO. v. UNITED STATES


52 F.Supp. 637 (1943)

SOCONY-VACUUM OIL CO., Inc., v. UNITED STATES.

District Court, S. D. New York.

November 8, 1943.


Attorney(s) appearing for the Case

R. Kemp Slaughter, of Washington, D. C., and John J. Manning, of New York City, for plaintiff.

Mathias F. Correa, U. S. Atty., of New York City (Laurence H. Axman, Asst. U. S. Atty., of New York City, of counsel), for defendant.


COXE, District Judge.

This is an action to recover an alleged over-payment of income taxes for 1925, amounting to $66,218.88, with interest from December 15, 1926.

The action is based on the refusal of the commissioner to allow any deduction from gross income on account of an asserted loss resulting from the partial liquidation in 1925 of the Tank Storage and Carriage Company, Ltd., a wholly owned British subsidiary of the plaintiff. This loss was stated in...

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