UNITED STATES DISTRICT COURT, DISTRICT OF NEW JERSEY
August 20, 1954
CENTURY TRANSIT CO.
The opinion of the court was delivered by: MADDEN
This is an income tax matter wherein plaintiff, Century Transit Co., a corporation of the State of New Jersey, with its principal place of business in Camden, New Jersey, hereinafter known as Century, having filed its income tax returns for the years in question with the Collector of Internal Revenue, at Camden, New Jersey, sues to recover income tax, declared value excess profits tax, and excess profits tax assessed against it for the years 1939, 1940, 1941.
On January 18, 1943, the Commissioner of Internal Revenue determined deficiencies and Century's tax liability for the years 1939, 1940 and 1941 as follows:
Year Income Declared Value Excess Profits Penalty Total
Tax Excess Prof. Tax
1939 $ 940.57 $ 248.49 -- -- $ 1189.06
1940 1028.61 63.69 -- -- 1092.30
1941 1770.46 710.66 -- -- 2481.12
Total $ 4762.48
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