Lowell Wool By-Products Co. v. War Contracts Price Adjustment Board

PRETTYMAN, Circuit Judge.

This is a petition to review a decision of the Tax Court of the United States in. a renegotiation case. Petitioner, Lowell Wool By-Products Company, had gross-sales in 1943 of less than $100,000. Considered alone, therefore, it was exempt' from renegotiation. Another company,. Nichols & Co., Inc., had renegotiable income substantially in excess of the $500,000' requisite for renegotiation. The Tax Court held that the petitioner and Nichols & Co.,. Inc., were under common control within-the meaning of the statute and that, therefore, the aggregate of the…