The opinion of the court was delivered by: DUSEN
This is a suit for refund of plaintiff's 1947 federal corporation income tax involving (a) the amount of plaintiff's net operating loss for the year 1946 available for carry-over to 1947, (b) defendant's contention that a refund of 1944 federal excess profits tax, as a result of the 1946 loss, which refund was received in 1947, should be included in taxable income in either 1946 or 1947, and (c) defendant's contention that the statute of limitations bars plaintiff's claim as to amounts paid into the Collector's suspense account prior to filing of the 1947 return, since they were received by the Government more than three years prior to the filing of the refund claim (see Section 322(b)(2)(A) of the Internal Revenue Code of 1939, as amended to August 1951, 26 U.S.C. § 322(b)(2)(A)),
even though these amounts had not been credited to plaintiff's 1947 income tax until a date which was within three years of the date this refund claim was filed.
1. Paragraphs 1 to 3(b),
inclusive, of Plaintiff's Requests for Findings of Fact.
2. By letters of March 3, 1948, and May 18, 1948, plaintiff was granted an extension of time until July 15, 1948, within which to file its 1947 federal income tax return, which return would normally have been due on March 15, 1948 (Stipulation, paragraphs 4 & 6, and Exhibits A and C).
3. Paragraphs 14, 16 and 17 of Plaintiff's Requests for Findings of Fact.
4. The moneys received from plaintiff by the Collector on March 15, 1948, and June 15, 1948, were deposited with the local Federal Reserve Bank in the name of the Collector of Internal Revenue, with credit being applied to the Treasurer of the United States.
5. On July 13, 1948, plaintiff filed with the then Collector of Internal Revenue its 1947 United States Corporation Income Tax Return (Form 1120) with the word 'COMPLETED' typed at the top of it and showing an income tax due on Line 38 of $ 1,616,277.36 (Stipulation, paragraph 8, and Exhibit D).
6. Paragraphs 19 to 23, 4 to 8, and 26 to 28a, inclusive, of Plaintiff's Requests for Findings of Fact.
7. Paragraphs 29(a), 30 and 31 of Plaintiff's Requests for Findings of Fact.
8. Plaintiff sustained a net operating loss of $ 6,457,421.78 for the calendar year 1945 (Paragraph 23 of Stipulation filed 12/19/56).
9. Paragraphs 10 to 12,
inclusive, of the Plaintiff's Requests for Findings of Fact.
1. The court has jurisdiction over the subject matter and the parties.
2. Paragraphs 1(i) to (iv), inclusive, of Plaintiff's Requests for ...