The opinion
LITTLETON, Judge
(dissenting).
I am of opinion that plaintiff is entitled to judgment for $1,655,420.26, being interest provided by law upon the overpayments for 1918 and 1919 from the dates paid to April 24, 1928, the date of the allowance of the overpayments and the credit thereof against taxes for 1921 and subsequent years. (1) A credit, within the meaning of the statute, does not occur until an overpayment is allowed. The allowance of the credit in this case was therefore April 24, 1928. (2) The liability for any tax in excess of that shown on the return for 1920 was a continuing obligation of the plaintiff and under the statute it had a right to pay the same and to direct its application. The payment and the directions that it be applied to the tax for 1920 were therefore valid, and the collector and the Commissioner were not authorized to ignore such directions and treat the payment as a payment on account of a tax for some other year. (3) The waiver of restrictions on assessment and collection filed April 4, 1928, was not a consent or agreement that the overpayments be credited against 1920 and that the payment made for 1920 be treated as a payment on account of taxes for other years. See Senate Finance Committee Report No. 52, Sixty-Ninth Congress, First Session, page 27, on the Revenue Act of 1926.