Harlan F. Stone

“ The respondents contend that, as each of the quarterly installments paid by the taxpayer was in excess of one-fourth of the proper amount of the tax for the year, interest allowed on the refund should have been computed, as the court below held, on the excess of each quarterly payment, from the date on which it was paid. But the government argues that such an excess quarterly payment is not a 'tax erroneously or illegally assessed or collected,' within the meaning of section 1019, if, when it is made, any part of the proper tax for the year has not been paid ”

“ The court below therefore correctly held that interest should be computed to that date, which was August 12, 1924, and that, as this date was subsequent to the enactment of section 1019 of the Revenue Act of 1924, the allowance of interest must be in accordance with that section, and not section 1324 of the Act of 1921, which had been repealed. ”