KERR, District Judge (assigned).
This is an action to recover $2,832.13 allegedly overpaid income tax for the calendar year 1951. Plaintiff's claim is premised on the theory that part of the distribution received by it as a shareholder constitutes a return of capital rather than income. Jurisdiction is conferred upon this Court by 28 U.S.C. § 1346(a) (1).
It is the taxpayer's position (1) that the earnings and profits of The Garden City Company should...
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