Smith v. Commissioner
United States Tax Court
In early 1968 petitioner completed the work which he had undertaken under a subcontract involving the construction of an overpass, and in March 1968 he submitted his final bill for payment. During 1968 the prime contractor paid petitioner $ 209,896.17 of the agreed contract price but refused to pay the remaining $ 18,000, claiming an offset for the cost of some of the prime contractor's materials allegedly used in completing the work.
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In early 1968 petitioner completed the work which he had undertaken under a subcontract involving the construction of an overpass, and in March 1968 he submitted his final bill for payment. During 1968 the prime contractor paid petitioner $ 209,896.17 of the agreed contract price but refused to pay the remaining $ 18,000, claiming an offset for the cost of some of the prime contractor's materials allegedly used in completing the work. On May 1, 1970, petitioner brought suit against the prime contractor for $ 18,000, and on Jan. 12, 1972, the prime contractor counterclaimed for $ 25,000. On…
1Opinion of the Court
Charles G. Smith and Margaret M. Smith, Petitioners v. Commissioner of Internal Revenue, Respondent
Smith v. Commissioner
Docket No. 8233-74
United States Tax Court
66 T.C. 213; 1976 U.S. Tax Ct. LEXIS 117;
April 28, 1976, Filed
Decision will be entered under Rule 155.
In early 1968 petitioner completed the work which he had undertaken under a subcontract involving the construction of an overpass, and in March 1968 he submitted his final bill for payment. During 1968 the prime contractor paid petitioner $ 209,896.17 of the agreed contract price but refused to pay the remaining $ 18,000, claiming an…
2Cases cited7 opinions
- Thompson-King-Tate, Inc., a Kentucky Corporation v. United StatesCourt of Appeals for the Sixth Circuit · 1961
- E. E. Black, Limited v. AlsupCourt of Appeals for the Ninth Circuit · 1954
- Vang v. LewellynCourt of Appeals for the Third Circuit · 1929
- C. H. Leavell & Co. v. CommissionerUnited States Tax Court · 1969
- Mesta Machine Co. v. CommissionerUnited States Board of Tax Appeals · 1928
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