Maguire Industries, Inc. v. Secretary of War

EDGERTON, Circuit Judge.

Petitioner Maguire Industries, Inc., formerly Auto-Ordnance Corporation, maker of the Thompson sub-machine gun or Tommy gun, asks review of the Tax Court’s dismissal, for lack of jurisdiction, of a petition for redetermination of petitioner’s excessive profits from war contracts with the United States.

On August 7, 1942 petitioner agreed with the Secretary of War to return to the government $6,000,000 of profits “realized, or likely to be realized” by petitioner “during the fiscal year ending October 31, 1942.” As this agreement was made during the fiscal year it…