Thurston Mfg. Co. v. Secretary of War
United States Tax Court
The amount of excessive profits of petitioner derived from its sales in 1942 which were subject to the Renegotiation Act, held, on the record, to be $ 125,000.
1Opinion of the Court
OPINION.
HaeROn, Judge'.
The first contention of the petitioner is that the Renegotiation Act of 1942 is unconstitutional. The Supreme Court has upheld the constitutionality of the act, in Lichter v. United States, 334 U. S. 742.
The question to be decided is whether the profits received by petitioner from its renegotiable business in 1942 were excessive within the meaning of the Renegotiation Act. Petitioner’s profits before Federal taxes, subject to renegotiation, amounted to $173,934.15. Respondent determined that these profits were excessive in the amount of $125,000, which would leave…
2Cases cited3 opinions
- Lichter v. United StatesSupreme Court of the United States · 1948
- Ring Constr. Corp. v. Secretary of WarUnited States Tax Court · 1947
- Crucible Steel Casting Co. v. Secretary of NavyUnited States Tax Court · 1947
3Cited by1 opinion
- Thurston Mfg. Co. v. Secretary of WarUnited States Tax Court · 1948