National Builders, Inc. v. Secretary of War
United States Tax Court
The petitioners, members of a joint venture, were awarded by the United States Government, a negotiated contract to construct part of Camp McCoy, Sparta, Wisconsin, on April 16, 1942, under which construction was completed in October 1942, except that some repairs were made in 1943. The joint venture kept its books and made its tax returns on a cash basis for a fiscal year ending on March 31. The total contract price was $ 4,554,733.17. The Government paid $ 400,142.95 on…
Read the full summary
The petitioners, members of a joint venture, were awarded by the United States Government, a negotiated contract to construct part of Camp McCoy, Sparta, Wisconsin, on April 16, 1942, under which construction was completed in October 1942, except that some repairs were made in 1943. The joint venture kept its books and made its tax returns on a cash basis for a fiscal year ending on March 31. The total contract price was $ 4,554,733.17. The Government paid $ 400,142.95 on the contract in June 1942 and further payments aggregating $ 3,791,954.84 by October 19, 1942. The balance, $ 362,778.73,…
1Opinion of the Court
OPINION.
Harhon, Judge:
In the petition, the petitioners allege, inter alia, that the respondent erred in including in the fiscal year which ended before June 30,1943, contract payments which were received in a fiscal year which ended after June 30,1943, having reference to the Government^; payment of $362,778.33 on August 16, 1943. On brief, the petitioners, in reliance upon the provisions of section 403 (c) (1) and .(6) of the Benegotiation Act as amended by section 701 (b) of the Bevenue Act of 1943, which was enacted on February 25, 1944, contend, in effect, that the Secretary of War did…
2Cases cited6 opinions
- Psaty & Fuhrman, Inc. v. StimsonUnited States Tax Court · 1948
- Maguire Indus. v. Secretary of WarUnited States Tax Court · 1949
- Buck v. War Contracts Price Adjustment BoardUnited States Tax Court · 1948
- Maguire Industries, Inc. v. Secretary of WarCourt of Appeals for the D.C. Circuit · 1950
- Brady v. War Contracts Price Adjustment BoardUnited States Tax Court · 1948
1 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Freedman v. CommissionerUnited States Tax Court · 1979
- R. G. Le Tourneau, Inc. v. Administrator of General ServicesUnited States Tax Court · 1954
- Freedman v. CommissionerUnited States Tax Court · 1979
- National Builders, Inc. v. Secretary of WarUnited States Tax Court · 1951
- Penn Mut. Indem. Co. v. CommissionerUnited States Tax Court · 1959
2 more not listed; retrieve them via the Exa API.