Manning, Collector of Internal Revenue, v. Seeley Tube & Box Co. (338 U.S. 561)
U.S. Supreme Court · decided February 6, 1950 · Supreme Court Database (Spaeth)
- Citation
- 338 U.S. 561 · 70 S. Ct. 386
- Decided
- February 6, 1950
- Term
- October Term 1949
- Vote
- 8–0
- Majority author
- Justice Vinson
- Issue area
- Federal Taxation
- Disposition
- Reversed
- Outcome
- Petitioning party won
- Ideological direction
- Liberal
Opinion excerpt
Mr. Chief Justice Vinson delivered the opinion of the Court. The facts of this case have been agreed upon by stipulation. On December 15, 1941, respondent taxpayer, a New Jersey corporation, filed a corporate tax return for its fiscal period, January 1, 1941, to September 30, 1941. On January 12, 1942, the Commissioner of Internal Revenue assessed the tax, which respondent timely paid. Respondent was adjudged a bankrupt and a receiver was appointed on July 7, 1943. On August 2, 1943, the Commissioner, using the accelerated procedure applicable in bankruptcy cases, assessed deficiencies in the 1941 taxes with interest from the date the tax was properly due to the assessment date. On March 3, 1944, respondent filed its return for the fiscal period from October 1, 1942, to September 30, 1943, showing a net operating loss for that year. This loss, when carried back in accordance with § 122 (b) (1) of the Internal Revenue Code, was sufficient to abate completely respondent’s tax liability for 1941. Respondent then filed claims for a refund of that part of the 1941 tax which had already been paid, and for the abatement of the assessed deficiency and interest. The Commissioner abated the deficiency, but refused to refund all the tax which had been paid, retaining an amount equal to the interest which had been assessed on the deficiency. Respondent then sued the Collector for the…
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