52 STAT.] 75TH CONG. , 3D SESS.-CH. 2S9-MAY 28, 1938 such tax; or (2) if no amount was shown as the tax by such taxpayer upon his return, or if no return was made by such taxpayer, then the amounts previously assessed (or collected without assessment) as deficiencies, but such amounts previously assessed, or collected without assessment, shall be decreased by the amounts previously abated, credited, refunded, or otherwise repaid in respect of such tax. There shall then be ascertained the increase or decrease in the tax previously determined which results solely from the correct exclusion, inclusion, allowance, disallowance, recognition, or nonrecognition, of the item, inclusion, deduction, credit, gain, or loss, which was the subject of the error. The amount so ascertained (together with any amounts wrong- fully collected, as additions to the tax or interest, as a result of such error) shall be the amount of the adjustment under this section. (e) ADJUSTMENT UNAFFECTED BY OTHER ITEMS, ETc.- The amount to be assessed and collected in the same manner as a deficiency, or to be refunded or credited in the same manner as an overpayment, under this section, shall not be diminished by any credit or set-off based upon any item, inclusion, deduction, credit, exemption, gain, or loss other than the one which was the subject of the error. Such amount, if paid, shall not be recovered by a claim or suit for refund or suit for erroneous refund based upon any item, inclusion, deduction, credit, exemption, gain, or loss other than the one which was the subject of the error. (f) No ADJUSTMENT FOR YEARS PRIOR TO 1932.- No adjustment shall be made under this section in respect of any taxable year beginning prior to January 1, 1932. SEC. 821. INTEREST ACCRUING AFTER OCTOBER 24, 1933, AND BEFORE AUGUST 30, 1935, ON DELINQUENT INCOME, ESTATE, AND GIFT TAXES. Interest accruing after October 24, 1933, and prior to August 30, 1935, on delinquent income, estate, and gift taxes shall be computed at the rate of 6 per centum per annum. Any such interest accruing during such period which has been collected prior to the date of the enactment of this Act in excess of such rate shall be credited or refunded to the taxpayer, if claim therefor is filed within six months after the date of the enactment of this Act. No interest shall be allowed or paid on any such credit or refund. TITLE VI-GENERAL PROVISIONS SEC. 901. DEFINITIONS. (a) When used in this Act- (1) The term "person" means an individual, a trust or estate, a partnership, or a corporation. (2) The term "corporation" includes associations, joint-stock companies, and insurance companies. (3) The term "partnership" includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this Act, a trust or estate or a corporation; and the term "partner" includes a member in such a syndicate, group, pool, joint venture, or organization. (4) The term "domestic" when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State or Territory. Adjustment unaf- fected by other items, etc. No adjustment for years prior to 1932. Delinquent income, estate, and gift taxes. Interest accruing after October 24. 1933, and prior to August 30, 1935. Title VI--eneral Provisions. Definitions. "Person." "Corporation." "Partnership." "Domestic."
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