MOENING v. WAR CONTRACTS PRICE ADJUSTMENT BOARD

Docket Nos. 413-R, 414-R.

14 T.C. 589 (1950)

WILLIAM C. MOENING AND HARRY A. HECKMANN—COPARTNERS DOING BUSINESS UNDER THE NAME AND STYLE OF THE UNITED STATES DRILL HEAD COMPANY, PETITIONER, v. WAR CONTRACTS PRICE ADJUSTMENT BOARD, RESPONDENT. WILLIAM C. MOENING AND HARRY A. HECKMANN—COPARTNERS DOING BUSINESS UNDER THE NAME AND STYLE OF THE UNITED STATES MACHINE TOOL COMPANY, PETITIONER, v. WAR CONTRACTS PRICE ADJUSTMENT BOARD, RESPONDENT.

United States Tax Court.

Promulgated April 17, 1950.


Attorney(s) appearing for the Case

Robert S. Marx, Esq., and John Paul Curry, Esq., for the petitioners.

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


Respondent determined that petitioners' profits on contracts and subcontracts subject to renegotiation during petitioners' tax year ended December 31, 1943, were excessive to the extent of $95,000 for the partnership entitled United States Drill Head Co., and to the extent of $25,000 for the partnership entitled United States Machine Tool Co., within the meaning of the Renegotiation Act. These proceedings, questioning the validity...

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