Morrison Waite

“ A tax was put on dividends, interest paid in the ordinary way, and profits used for construction or carried to some fund. This was a classification of the income of the corporation for the purposes of taxation.
In the present case there has been no assessment of a tax, but the United States have sued to recover such sum as, upon an investigation of the accounts of the company, it shall appear ought to have been paid. The burden of proof is upon the government. No more can be recovered than is shown to be due. ”

“ This was part of the system adopted for the taxation of the 'profits, income, or gains' of railroad corporations, which, as was said in Railroad Co. v. Collector, 100 U.S. 598, it was the object of this statute to provide. ”