LTV AEROSPACE CORPORATION v. RENEGOTIATION BOARD

Docket Nos. 929-R, 963-R.

51 T.C. 369 (1968)

LTV AEROSPACE CORPORATION, PETITIONER v. RENEGOTIATION BOARD, RESPONDENT.

United States Tax Court.

Filed December 16, 1968.


Attorney(s) appearing for the Case

Jack Gray Johnson and James E. Coleman, Jr., for the petitioner.

James H. Prentice, for the respondent.


SIMPSON, Judge:

The respondent, by unilateral orders dated August 16, 1955, and April 23, 1957, determined that Temco Aircraft Corp. (Temco), the predecessor in interest of the petitioner LTV Aerospace Corp., realized excessive profits of $750,000 in 1952 and $3,500,000 in 1953. Under section 108 of the Renegotiation Act of 1951,1 the petitioner seeks de novo determinations of its...

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