United States v. Corbetta

RYAN, District Judge.

This is a suit by the United States to recover from the defendants, from May 17, 1945, the sum of $98,982.06 together with 6% interest thereon, this amount representing the difference between $175,000 allegedly ascertained to be excess profits earned by them for the year 1942, pursuant to Section 403(c) of the Renegotiation Act, as amended 50 Appendix U.S.C.A. § 1191, and $76,017.94 allegedly ascertained to be tax credit due the defendants therefor under Section 3806 of the Internal Revenue Code, 26 U.S.C.A. § 3806.

In essence, the defense herein rests on three grounds:…