WEICK, Circuit Judge.
This case involves solely a question of law whether the statute of limitations under the Internal Revenue Code of 1954 or the period of limitation provided by the Internal Revenue Code of 1939 applies to a refund claim involving a net operating loss suffered in 1955, and carried back to 1953.
Taxpayers had timely filed their income tax return for 1953 and paid the tax thereon amounting to $17,787.20. In 1955, they sustained a net operating...
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