Estate of Robert I. Gale, Deceased, Robert I Gale, Jr., Guy W. Waters and Edgar H. Vogel v. United States

This is a petition for review of a decision of the Tax Court of the United States. In a proceeding brought by petitioners against the War Contracts Price Adjustment Board, the Tax Court found (1) that petitioners realized profits for 1943 from a renegotiable contract and (2) that these profits were excessive to the extent of $225,000. After this case was heard by our court it remained undecided because of the pendency of United States v. California Eastern Line, Inc., 75 S.Ct. 419, 421. In that case the Supreme Court has now said: “In making determinations as to excess profits the Tax Court…