McALLISTER, Senior Circuit Judge.
The E. W. Bliss Company, taxpayer herein, brought an action in the district court to recover an alleged overpayment of corporate income taxes for the year 1951. It contended that the Commissioner of Internal Revenue acted arbitrarily in disallowing a write-down of the taxpayer's inventory of work in process; and that certain New York franchise tax refund claims had accrued at the time the application for refund was filed. The greater...
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