Findings of Fact and Memorandum Opinion
The Commissioner determined deficiencies for 1939, 1940 and 1941, of $690.23, $925.68 and $1,237.71, in income tax, and of $505.91, $642.74 and $602.73, in declared value excess profits tax. The petitioner claims exemption under Section 101(7), Internal Revenue Code, or, in the alternative, the deduction as patronage dividends of distributions to its members.
Findings of Fact
The petitioner was incorporated...
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