The Commissioner determined deficiencies in petitioner's income tax of $2,913.77 for 1936 and $8,604.90 for 1937. (1) From cost of merchandise, he excluded discounts which the petitioner contends were really part of the sale price of shares. (2) Petitioner also assails the disallowance of a dividend restriction credit claimed under section 26 (c).
FINDINGS OF FACT.
Petitioner, a Massachusetts corporation with principal office at Pittsfield, Massachusetts...
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