CRUCIBLE STEEL CASTING CO. v. SECRETARY OF NAVY

Docket No. 13-R.

9 T.C. 523 (1947)

CRUCIBLE STEEL CASTING COMPANY, PETITIONER, v. THE SECRETARY OF THE NAVY, RESPONDENT.

United States Tax Court.

Promulgated September 30, 1947.


Attorney(s) appearing for the Case

Vernon L. Stover, Esq., for the petitioner.

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


The parties herein have agreed that during the year 1942 petitioner realized profits from its operations, after the deduction of executives' salaries as provided by this Court in a prior hearing, amounting to $247,579.33, said profits being realized from the sale of manufactured articles to the United States Government and being subject to renegotiation.

On January 14, 1944, the Secretary of the Navy determined that for the year ended December 31, 1942, petitioner...

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