Fine v. War Contracts Price Adjustment Board
United States Tax Court
Petitioner, since 1939, has been engaged in business as manufacturers' agent. In 1943 he received commissions of $ 36,598.51, based upon the amounts of contracts for commodities having a war-end use. Of such amount, $ 19,131.44 was based on amounts of contracts procured by him for his principals and $ 17,467.07 was compensation for field services in connection with contracts of his principal.
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Petitioner, since 1939, has been engaged in business as manufacturers' agent. In 1943 he received commissions of $ 36,598.51, based upon the amounts of contracts for commodities having a war-end use. Of such amount, $ 19,131.44 was based on amounts of contracts procured by him for his principals and $ 17,467.07 was compensation for field services in connection with contracts of his principal. Held, (1) since the sum of $ 17,467.07 was not contingent upon the procurement by petitioner of the contracts or subcontracts upon the amount of which the compensation was based, such amount, although…
1Opinion of the Court
OPINION.
Van Fossan, Judge:
As a result of renegotiation proceedings initiated by the Services and Sales Eenegotiation Section of the Office of the Under Secretary of the Navy, acting on behalf of the War Contracts Price Adjustment Board, it was determined by such section that petitioner’s profits for the year 1943 were excessive in the amount of $11,683.08, which, aftér adjustment for a tax credit of $7,055.40, required a refund to the United States of $4,627.68. The War Contracts Price Adjustment Board adopted the determination as its determination. In its answer to the amended petition, the…
2Cases cited2 opinions
- Wolff & Phillips v. MacauleyUnited States Tax Court · 1947
- Iverson & Laux, Inc. v. ForrestalUnited States Tax Court · 1946
3Cited by3 opinions
- Cooper-Macdonald, Inc. v. United StatesUnited States Court of Claims · 1977
- United States v. Whitehouse & Pine, Inc.District Court, S.D. New York · 1954
- Fine v. War Contracts Price Adjustment BoardUnited States Tax Court · 1947