Memorandum Findings of Fact and Opinion
This proceeding involves the determination by the respondent of a deficiency in income tax for the taxable year ended July 31, 1940, in the amount of $330.04. The deficiency is due to three adjustments which the respondent made to the net income as reported by petitioner on its return. The first adjustment is not contested. The remaining two adjustments are explained by the respondent as follows:
(b) The deduction...
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