Welch

Action in equity to restrain the collection by the collector of internal revenue of certain income and excess profits taxes levied against plaintiff and its subsidiaries. The ease is submitted upon an agreed statement of facts. The assessments, the collection of which the plaintiff seeks to restrain, are for the four years of 1920 to 1923, inclusive.

For these four years the plaintiff regularly made its returns and the taxes disclosed thereby were regularly assessed and fully paid. The usual agreement was made by whieh the plaintiff waived the running of the statute with reference to the ascertainment of deficiencies.

On September 14, 1928, the Commissioner of Internal Revenue addressed a letter to the plaintiff, by whieh plaintiff was advised that an examination disclosed a deficiency for each of the four years mentioned and that it might present a protest against the proposed liability within thirty days. Plaintiff was further advised by this letter that, if a protest were filed and the Commissioner finally determined that a deficiency existed, it would be advised thereof by registered mail, and, if such proposed deficiency were not agreed to, sixty days after the mailing of…