Crosby v. Heiner (12 F.2d 604, 1926)

THOMSON, District Judge.

This is an action in assumpsit for tbe recovery of income tax alleged to have been unlawfully assessed and collected by the defendant, D. B. Heiner, Collector of United States Internal Revenue for the Twenty-Third District of Pennsylvania at Pittsburgh. The action arises under the Revenue Act of October 3, 1917 (Comp. St. 1918, § 6336%a et seq.).

The plaintiff, Minnie E. Byles Crosby, is a resident of Oil City, Venango county, Pa. She drafted and submitted her income tax return for the year 1917 within the time prescribed by law. Said return disclosed a tax liability of $8,280.44, which amount was duly paid to former Collector C. O. Lewellyn within the time required by law. In this return Mrs. Byles Crosby reported as taxable income a profit of $26,314 arising from the sale by her during the year 1917 of 13,157 shares of the common stock of the Pure Oil Company. This stock had been received by her as a bequest under the last will and testament of her deceased husband, Darnel E. Byles, who died July 21, 1913.

Under the statute, the fair value