Aircraft Screw Products Co. v. War Contracts Price Adjustment Board
United States Tax Court
Petitioner's excessive profits for the fiscal year ended September 30, 1943, held to be the amount determined by the respondent, petitioner not having sustained its burden of proving that respondent erred in its original determination, and respondent not having sustained its burden of proving, as alleged in its amended answer, that petitioner had additional excessive profits for that year.
1Opinion of the Court
OPINION.
Leech, Judge:
The renegotiation of petitioner’s war contracts for the fiscal year 1943 here involved resulted in a determination by the Navy Price Adjustment Board that petitioner’s profits for that year from these contracts were excessive to the extent of $85,000, which, when adjustment was made for $7,000 in state taxes, required a refund in the sum of $78,000. This determination was adopted by respondent, the War Contracts Price Adjustment Board, as its determination. Respondent, by amended answer, asks that we find petitioner’s profits to be excessive to the extent of $158,078.
The…
2Cases cited8 opinions
- John Kelley Co. v. CommissionerSupreme Court of the United States · 1946
- Warren v. KingSupreme Court of the United States · 1883
- In re Fechheimer Fisher Co.Court of Appeals for the Second Circuit · 1914
- Stein Bros. Mfg. Co. v. Secretary of WarUnited States Tax Court · 1946
- Cleveland Adolph Mayer Realty Corp. v. CommissionerUnited States Tax Court · 1946
3 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Bass v. StimsonUnited States Tax Court · 1953
- Vaughn Machinery Co. v. Renegotiation BoardUnited States Tax Court · 1958
- LTV Aerospace Corp. v. Renegotiation BoardUnited States Tax Court · 1968
- Golbert v. Renegotiation BoardUnited States Tax Court · 1957
- Crucible Steel Casting Co. v. Secretary of NavyUnited States Tax Court · 1947
14 more not listed; retrieve them via the Exa API.