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
OPINION.
Raum, Judge:
In this proceeding the petitioner is contesting the unilateral determination of excessive profits for the year 1943 on two grounds: (1) that there were erroneously included therein profits earned by it under three contracts which had been previously renegotiated pursuant to the agreement dated July 16, 1943, and (2) that the order entered on behalf of the respondent determining excessive profits for 1943 was not entered within 1 year following the commencement of renegotiation.
1. The petitioner’s first contention is that the effect of the agreement of July 16, 1943, was to…
2Cases cited5 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
3Cited by4 opinions
- Hanlon-Waters, Inc. v. United StatesCourt of Appeals for the D.C. Circuit · 1955
- Hanlon-Waters, Inc. v. United StatesUnited States Tax Court · 1956
- Hanlon-Waters, Inc. v. United StatesUnited States Tax Court · 1956
- Hanlon-Waters, Inc. v. United StatesUnited States Tax Court · 1953