Memorandum Findings of Fact and Opinion
The Commissioner determined deficiencies in petitioner's income tax, declared-value excess profits tax and excess-profits tax, for the calendar year 1940 in the respective amounts of $1,114.19, $820.51, and $1,515.67. These deficiencies resulted from the respondent's disallowance of a deduction made by petitioner on account of salary alleged to have been paid to its president. The issues are, first, whether petitioner paid...
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