Hooper Constr. Co. v. Renegotiation Board
United States Tax Court
Petitioner, whose regular method of accounting, on which it reported its income for Federal income tax purposes, was an accrual and completed contract basis, completed all work required under its contract in 1951. The prime contractor approved such work and accepted it for use by authorizing another subcontractor to place work over the work done by petitioner. In 1952 petitioner did a minor amount of repair work under its subcontract, necessitated by washes from heavy rains.
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Petitioner, whose regular method of accounting, on which it reported its income for Federal income tax purposes, was an accrual and completed contract basis, completed all work required under its contract in 1951. The prime contractor approved such work and accepted it for use by authorizing another subcontractor to place work over the work done by petitioner. In 1952 petitioner did a minor amount of repair work under its subcontract, necessitated by washes from heavy rains. Held, for the purposes of renegotiation, petitioner's subcontract was finally completed and accepted in 1951 and the…
1Opinion of the Court
Hooper Construction Company, a Corporation, Petitioner, v. Renegotiation Board, Respondent
Hooper Constr. Co. v. Renegotiation Board
Docket No. 951-R
United States Tax Court
35 T.C. 837; 1961 U.S. Tax Ct. LEXIS 216;
February 28, 1961, Filed
Decision will be entered for the petitioner.
Petitioner, whose regular method of accounting, on which it reported its income for Federal income tax purposes, was an accrual and completed contract basis, completed all work required under its contract in 1951. The prime contractor approved such work and accepted it for use by authorizing another subcontractor to…
2Cases cited8 opinions
- Lichter v. United StatesSupreme Court of the United States · 1948
- Standard Paving Co. v. Commissioner of Internal Revenue. Standard Paving Co. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1951
- Standard Paving Co. v. CommissionerUnited States Tax Court · 1949
- Rosner v. War Contracts Price Adjustment BoardUnited States Tax Court · 1951
- L. A. Wells Constr. Co. v. CommissionerUnited States Board of Tax Appeals · 1942
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