Brady v. War Contracts Price Adjustment Board
United States Tax Court
The Secretary of the Navy commenced on September 7, 1943, renegotiation of petitioner's war contracts for the year ended December 31, 1943. The renegotiation so commenced was uncompleted and pending when the Renegotiation Act of 1943 was passed on February 25, 1944. That act created the War Contracts Price Adjustment Board, with exclusive authority to renegotiate for all fiscal years ending after June 30, 1943. The determination of excessive profits by the Board on December…
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The Secretary of the Navy commenced on September 7, 1943, renegotiation of petitioner's war contracts for the year ended December 31, 1943. The renegotiation so commenced was uncompleted and pending when the Renegotiation Act of 1943 was passed on February 25, 1944. That act created the War Contracts Price Adjustment Board, with exclusive authority to renegotiate for all fiscal years ending after June 30, 1943. The determination of excessive profits by the Board on December 20, 1944, concluded the renegotiation. Petitioner contends that such determination was not made within one year…
1Opinion of the Court
OPINION.
Hint/, Judge:
It is stipulated, and we agree, that, in compliance with the Renegotiation Act of 1942, renegotiation was commenced on September 7, 1943, by the Secretary of the Navy of petitioner’s renegotiable business for the year 1943.
Under section 403 (c) (1) of the 1942 Act it was not necessary to await the end of the year renegotiated before commencing renegotiation thereof. That section provides:
■Whenever, in the opinion of the Secretary of a Department, the profits realized or likely to he realized from any contract with such Department, or from any subcontract thereunder…
2Cases cited4 opinions
- Hallowell v. CommonsSupreme Court of the United States · 1916
- Railroad Co. v. GrantSupreme Court of the United States · 1879
- American Coast Line, Inc. v. CommissionerUnited States Tax Court · 1946
- Buck v. War Contracts Price Adjustment BoardUnited States Tax Court · 1948
3Cited by5 opinions
- National Builders, Inc. v. Secretary of WarUnited States Tax Court · 1951
- Oregon Brass Works v. War Contracts Price Adjustment BoardUnited States Tax Court · 1951
- Brady v. War Contracts Price Adjustment BoardUnited States Tax Court · 1948
- National Builders, Inc. v. Secretary of WarUnited States Tax Court · 1951
- Oregon Brass Works v. War Contracts Price Adjustment BoardUnited States Tax Court · 1951