Poe

This action was brought by the appellant to recover $30,770.37 deficiency income taxes paid by it to the government on April 26, 1927, for the years 1920 and 1921. The sole question presented by the record, as stated by the appellant, is whether or not the statutory period of limitation for the assessment of such taxes had expired at the time assessment was made, on March 5,1927. The time for the assessment of the deficiency would have expired for the year 1920 on the 14th of April, 1926, and for the taxes of 1921 on the 14th of June, 1926. (Section 277(a) (2), Revenue Act of 1926 [26 USCA § 1057(a) (2)] and section 277(a) (1, 2), Revenue Act of 1924 [26 USCA § 1057 note]). However, on the 14th of November, 1925, appellant entered into an agreement with the Commissioner of Internal Revenue, authorized thereto by section 278(c) of the Revenue Act of 1924 (43 Stat., pp. 299, 300), that the assessment for the amount of income, excess profits, or war profits due on returns made for the year 1920-21 might be made on or before December 31,1926, except that the agreement provided for an assessment sixty days thereafter, if an appeal was filed with the Board of Tax Appeals.

On December…