Boeing Co. v. Renegotiation Board
United States Tax Court
1. Expenditures made by petitioner for certain advertising and other overhead expense held not allocable to the petitioner's renegotiable business in 1952. 2. Cost of work performed with respect to the design, development, and construction of a prototype airplane not in pursuance of any contract with the United States Government held not allocable to petitioner's renegotiable business. 3. Amount of excessive profits made by petitioner from its renegotiable business in 1952…
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1. Expenditures made by petitioner for certain advertising and other overhead expense held not allocable to the petitioner's renegotiable business in 1952. 2. Cost of work performed with respect to the design, development, and construction of a prototype airplane not in pursuance of any contract with the United States Government held not allocable to petitioner's renegotiable business. 3. Amount of excessive profits made by petitioner from its renegotiable business in 1952 determined.
1Opinion of the Court
Wtthby, Judge:
On December 5,1955, the respondent issued its unilateral order determining that for the year 1952 petitioner had received excessive profits in the amount of $9,822,340 upon renegotiable business with the United States Air Force. At the close of the proofs herein, respondent, by an amendment of its answer to conform to such proof, now claims total excessive profits for 1952 in the amount of $20 million. The disposition of two preliminary issues is necessary in order to arrive at the total amount of petitioner’s renegotiable profit for 1952. These issues are (1) whether certain…
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