The respondent determined that excessive profits of $245,000 were realized by petitioner during the year ended December 31, 1942, on contracts and subcontracts subject to renegotiation under section 403 of the Sixth Supplemental National Defense Appropriation Act of 1942, as amended, and advised petitioner of this determination by notice dated November 21, 1944. In an amended answer respondent affirmatively alleges that petitioner realized excessive profits from renegotiable...
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