Vaughn Machinery Co. v. Renegotiation Board
United States Tax Court
In 1952 petitioner sold 101 wire-drawing machines to 7 customers purchasing such machines in order to fulfill prime contracts with the United States Government. The machines were to and did become the property of the Government upon delivery.
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In 1952 petitioner sold 101 wire-drawing machines to 7 customers purchasing such machines in order to fulfill prime contracts with the United States Government. The machines were to and did become the property of the Government upon delivery. The Renegotiation Board determined that the above sales were fully subject to renegotiation, and that petitioner had realized excessive profits in the amount of $ 200,000. Held, petitioner is not entitled to the partial mandatory exemption of section 106 (c) of the Renegotiation Act of 1951, and the entire amount received on account of the sales in…
1Opinion of the Court
FoRrestee, Judge:
By its unilateral order, the Renegotiation Board determined that in 1952 petitioner had realized excessive profits subject to renegotiation in the amount of $200,000, all of which is in issue.
FINDINGS OF FACT.
Some of the facts have been stipulated and are so found, the stipulations being incorporated herein by this reference.
Petitioner is a corporation organized under the laws of the State of Ohio, with its principal place of business at 20 Broad Street, Cuya-hoga Falls, Ohio. It was formed in 1889 to take over and operate the business of a partnership originally organized in…
2Cases cited9 opinions
- J. E. Riley Investment Co. v. CommissionerSupreme Court of the United States · 1940
- Stein Bros. Mfg. Co. v. Secretary of WarUnited States Tax Court · 1946
- Cohen v. Secretary of WarUnited States Tax Court · 1946
- Ring Constr. Corp. v. Secretary of WarUnited States Tax Court · 1947
- Ring Const. Corporation v. Secretary of War of United StatesCourt of Appeals for the D.C. Circuit · 1949
4 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- LTV Aerospace Corp. v. Renegotiation BoardUnited States Tax Court · 1968
- Vaughn MacHinery Company v. Renegotiation BoardCourt of Appeals for the Sixth Circuit · 1959
- Offner Products Corp. v. Renegotiation BoardUnited States Tax Court · 1968
- List & Clark Constr. Co. v. Renegotiation BoardUnited States Tax Court · 1961
- Perry v. United StatesUnited States Court of Claims · 1975
6 more not listed; retrieve them via the Exa API.