SPARKS, Circuit Judge.
Petitioner challenges a decision of the Tax Court sustaining the Commissioner's determination of its liability for surtaxes on its income for the year 1938 as a personal holding company, and imposing a 25% penalty for failure to file proper return as such. It asserts as error the finding of the Tax Court that it was a personal holding company within the meaning of the applicable statute; that its income was not used for the payment of debts...
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