Respondent determined deficiencies of $71.97 in petitioner's income tax and of $2,025.02 in personal holding company surtax for the calendar year 1941, and imposed a 25 percent delinquency penalty of $506.25 for failure to file a personal holding company return. Petitioner concedes that the deficiencies were correctly asserted and is here contesting only the imposition of the penalty.
FINDINGS OF FACT.
Petitioner is a corporation organized under the laws...
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