OLD COLONY TRUST ASSOCIATES v. HASSETT

No. 4065.

150 F.2d 179 (1945)

OLD COLONY TRUST ASSOCIATES v. HASSETT, Collector of Internal Revenue.

Circuit Court of Appeals, First Circuit.

May 18, 1945.


Attorney(s) appearing for the Case

Hugh D. McLellan, of Boston, Mass. (George R. Blodgett, Kenneth W. Bergen, and Herrick, Smith, Donald, Farley & Ketchum, all of Boston, Mass., of counsel), for appellant.

Fred J. Neuland, Sp. Asst. to Atty. Gen. (Samuel O. Clark, Jr., Asst. Atty. Gen., Sewall Key and Robert N. Anderson, Sp. Assts. to Atty. Gen., and Edmund J. Brandon, U. S. Atty., and George F. Garrity, Asst. U. S. Atty., both of Boston, Mass., of counsel), for appellee.

Before MAHONEY, and WOODBURY, Circuit Judges, and FORD, District Judge.


FORD, District Judge.

This is an appeal from a judgment, claimed inadequate, of the district court in favor of the appellant in a suit for the recovery of federal income and excess profits taxes paid for the calendar years 1935 and 1936. The facts for the most part have been stipulated by the parties.

The taxpayer, Old Colony Trust Associates, is and was during the tax years of 1935 and 1936 a bank investment trust and a corporation within the meaning of the...

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