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WELCH v. OBISPO OIL CO.

No. 602.

301 U.S. 190 (1937)

57 S.Ct. 684

81 L.Ed. 1033

WELCH, FORMER COLLECTOR OF INTERNAL REVENUE, v. OBISPO OIL CO.

Supreme Court of United States.

Decided April 26, 1937.

Attorney(s) appearing for the Case

Mr. J. Louis Monarch, with whom Solicitor General Reed, Assistant Attorney General Morris, and Messrs. John G. Remey and Charles A. Horsky were on the brief, for petitioner.

Mr. Joseph D. Peeler, with whom Mr. Robert N. Miller was on the brief, for respondent.

By leave of Court, Mr. Percy W. Phillips filed a brief, as amicus curiae, urging affirmance of the judgment below.

MR. JUSTICE BRANDEIS delivered the opinion of the Court.

The Revenue Act of 1918, c. 18, 40 Stat. 1057, laid upon corporations, in addition to the income tax, a war profits and excess profits tax at very high rates. Because the profits tax might prove unduly burdensome, Congress provided by §§ 327 and 328 for a special assessment of the profits tax by the Commissioner of Internal Revenue under certain circumstances. The question for decision in this case...

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