Memorandum Findings of Fact and Opinion
The Commissioner has determined a deficiency in petitioner's income tax for the year 1940 of $6,544.38. The deficiency is due to two adjustments made in the income tax return filed by petitioner. These adjustments were:
Unallowable deductions and additional income: (a) Officers' compensation ........ $20,000.00 (b) Traveling and entertaining expenses ...................... 1...
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