Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency in petitioner's income tax for the calendar year 1939 in the amount of $2,082.33, and in its excess profits tax for the same period in the amount of $724.14, resulting from his action disallowing a deduction in the amount of $10,286.38 claimed by petitioner because of worthlessness of certain real estate, and including in petitioner's taxable income the amount of $5,753.14 received...
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