Memorandum Findings of Fact and Opinion
HILL, Judge:
This proceeding involves an income tax deficiency of $9,019.72 for the calendar year 1939. Two questions are presented, namely, (1) whether petitioner is entitled to a deduction of $111,542.88 in the taxable year for obsolescence, additional depreciation or loss of useful life, and (2) whether petitioner realized taxable income in the taxable year by reason of the purchase, after June 29, 1939, of $57...
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