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EQUINOX MILL v. COMMISSIONER

Docket No. 22706.

16 T.C. 267 (1951)

EQUINOX MILL, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated January 31, 1951.

Attorney(s) appearing for the Case

William Shelmerdine, Jr., Esq., and Arthur E. Whittemore, Esq., for the petitioner.

Paul P. Lipton, Esq., and James R. McGowan, Esq., for the respondent.

OPINION.

RAUM, Judge:

The Commissioner determined a deficiency in petitioner's excess profits taxes for the year 1942 in the amount of $67,047.31, of which $54,243.35 is now in controversy. The sole question for decision is whether the respondent erred in including in the taxable income of petitioner for the year 1942, a refund of $75,338 received by it in 1947 pursuant to a claim filed by it under "(i) (3...

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