SOUTHLAND STEEL COMPANY v. WAR CONTRACTS PRICE ADJUSTMENT BOARD

Docket No. 578-R.

13 T.C. 652 (1949)

SOUTHLAND STEEL COMPANY BY AGNES GILLESPIE, OWNER, AND AGNES GILLESPIE, INDIVIDUALLY, PETITIONERS, v. WAR CONTRACTS PRICE ADJUSTMENT BOARD, RESPONDENT.

United States Tax Court.

Promulgated October 26, 1949.


Attorney(s) appearing for the Case

Felix Atwood, Esq., for the petitioners.

Ralph G. Cornell, Esq., for the respondent.


The respondent determined that petitioner Southland Steel Co. realized excessive profits within the meaning of the Renegotiation Act of 1943 (section 403 of the Sixth Supplemental National Defense Appropriation Act of 1942, as amended by the Revenue Act of 1943) for the period beginning March 1, 1944, and ending December 31, 1944, in the amount of $32,500. The issues presented by the pleadings are:

(1) Were the Southland Steel Co. and the Butane Equipment Co. during...

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