This is a proceeding for the redetermination of a deficiency of $3,256.86 in petitioner's excess profits tax for the taxable year ended May 31, 1941. By an amended answer the respondent affirmatively claims an increased deficiency of $2,060.95 in petitioner's excess profits tax liability for that year.
The deficiency results in part from four adjustments to petitioner's excess profits net income computed under the invested capital method as disclosed by its return...
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