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BROOKS EQUIPMENT & MFG. CO. v. UNITED STATES

No. 49295.

95 F.Supp. 247 (1951)

BROOKS EQUIPMENT & MFG. CO. v. UNITED STATES.

United States Court of Claims.

February 6, 1951.

Attorney(s) appearing for the Case

Scott P. Crampton, Washington, D. C. (George E. H. Goodner and Dewey R. Roark, Jr., Washington, D. C., on the brief), for plaintiff.

John A. Rees, Washington, D. C., Theron Lamar Caudle, Asst. Atty. Gen. (Andrew D. Sharpe, Washington, D. C., on the brief), for defendants.

Before JONES, Chief Judge, and LITTLETON, WHITAKER, MADDEN and HOWELL, Judges.

WHITAKER, Judge.

Plaintiff sues for the tax levied on its undistributed net profits for the years 1936 and 1937. It claims it is not subject to the tax because the laws of Tennessee, under which it was incorporated, prohibited it from distributing its net profits because prior to the years in question it had operated at a net loss. In 1935, it says, it had an accumulated net loss of $22,506.07. Therefore, it says it cannot...

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