HUTCHESON, Circuit Judge.
Plaintiff, in 1924, made a payment to one of its officers on account of services which, though rendered in past years, did not become an obligation of the company until voted by the directors in this year. In its income tax return it took credit for this amount as an ordinary and necessary expense, and in arriving at its net income from its producing properties for the purpose of discovery depletion, it allowed 70 per cent. of this amount...
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