Memorandum Opinion
DISNEY, Judge:
This case involves income and declared value excess profits taxes for the taxable year ended December 31, 1942, in the amounts of $3,141.70 and $118.58, respectively. The questions presented are whether the petitioner is entitled to deduct as interest, payments made to the holders of its debentures and whether it is entitled to deduct additions to its sinking fund.
All facts were stipulated. We adopt such stipulation...
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