MORTON, Circuit Judge.
This case involves a deficiency income tax for the year 1926. The income on which the tax was assessed was created as a matter of bookkeeping by the Commissioner's disallowance as deductions for expenses of the business of certain payments made by the petitioner to its principal officers as additional compensation for their services during that year. The amount of this additional compensation was $125,000. The whole of it was disallowed as a...
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