HANLON-WATERS, INC. v. U. S.

Docket No. 534-R.

20 T.C. 537 (1953)

HANLON-WATERS, INC., PETITIONER, v. UNITED STATES, RESPONDENT.

United States Tax Court.

Promulgated May 29, 1953.


Attorney(s) appearing for the Case

Alexander M. Heron, Esq., for the petitioner.

Frederick N. Curley, Esq., for the respondent.


Petitioner seeks review of a determination of excessive profits to be eliminated for the year ended December 31, 1943, in the amount of $1,202,539.70. The United States has been substituted as party respondent in place of the War Contracts Price Adjustment Board.

Petitioner has abandoned its contention, among others, that profits in question were not excessive, and now contends only (1) that, by reason of an agreement dated July 16, 1943, the 1943 renegotiation proceedings...

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