Beets v. Renegotiation Board

OPINION.

Turner, Judge:

Respondent determined that the Thorson Company realized $15,000 excessive profits in 1954. Petitioners have instituted this proceeding alleging that no part of the profits realized by the partnership in 1954 was excessive within the meaning of the Renegotiation Act of 1951, as amended. Respondent makes no claim that the profits in excess of $15,000 were excessive.

This is a de novo proceeding and the Court, from the evidence of record, guided by the Renegotiation Act, the rules and regulations promulgated by the respondent pursuant to the Act, and the Court’s own…