Respondent determined deficiencies in the income and excess profits tax liabilities of petitioner for the fiscal year ended January 31, 1941, in the respective amounts of $2,603.30 and $21,861.38. The issue relating to petitioner's income tax liability has been resolved by stipulation at the trial. The only question remaining is whether petitioner was an "acquiring corporation" under sections 740 and 742 of the Internal Revenue Code for purposes of computing its excess profits...
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