SANBORN, Circuit Judge.
The petitioner asserts that the Commissioner of Internal Revenue and the Tax Court of the United States erroneously disallowed a deduction taken by petitioner in its income and excess-profits tax return for the fiscal year ended October 31, 1940. The disallowance caused a deficiency of $1,017.85 in petitioner's income tax and $314.19 in its declared value excess-profits tax for that year.
The question presented is whether the deduction...
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