FULTON, District Judge.
This is a tax refund suit whereby the plaintiffs seek to recover income taxes in the amount of $162,538.73, which were paid for the taxpayer's fiscal year ending July 31, 1956.
Plaintiffs contend that the taxpayer suffered a net operating loss for the fiscal year ending July 31, 1959, which loss was sufficient in amount to justify the claimed refund. Plaintiffs rely on the "carry-back" provisions of Section 172 of the Internal Revenue...
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