Hanlon-Waters, Inc. v. United States
United States Tax Court
1. Petitioner and the respondent, when renegotiation of petitioner's renegotiable contracts for the year 1942 was under consideration, entered into an agreement which determined the amount of petitioner's excessive profits from those contracts for that year, and the amount of price reductions by petitioner on three contracts upon which deliveries were to be made subsequent to 1942. Paragraph III of the agreement provided that the provisions as to price reductions should be…
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1. Petitioner and the respondent, when renegotiation of petitioner's renegotiable contracts for the year 1942 was under consideration, entered into an agreement which determined the amount of petitioner's excessive profits from those contracts for that year, and the amount of price reductions by petitioner on three contracts upon which deliveries were to be made subsequent to 1942. Paragraph III of the agreement provided that the provisions as to price reductions should be without prejudice to subsequent renegotiation pursuant to the Renegotiation Act, relating to any year subsequent to 1942.…
1Opinion of the Court
Hanlon-Waters, Inc., Petitioner, v. United States, Respondent
Hanlon-Waters, Inc. v. United States
Docket No. 534-R
United States Tax Court
20 T.C. 537; 1953 U.S. Tax Ct. LEXIS 130;
May 29, 1953, Promulgated
1. Petitioner and the respondent, when renegotiation of petitioner's renegotiable contracts for the year 1942 was under consideration, entered into an agreement which determined the amount of petitioner's excessive profits from those contracts for that year, and the amount of price reductions by petitioner on three contracts upon which deliveries were to be made subsequent to 1942. Paragraph…
2Cases cited6 opinions
- Drug, Inc. v. HuntSupreme Court of Delaware · 1933
- Helvering v. Metropolitan Edison Co.Supreme Court of the United States · 1939
- COMMISSIONER OF INT. REVENUE v. Oswego Falls Corp.Court of Appeals for the Second Circuit · 1934
- Maguire Indus. v. Secretary of WarUnited States Tax Court · 1949
- Linde Dredging Co. v. Southwest L. E. Myers Co.Court of Appeals for the Fifth Circuit · 1933
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