Memorandum Findings of Fact and Opinion
This proceeding involves a deficiency of $193,980.27 in income tax for the calendar year 1940.
The sole issue is whether the respondent erred in disallowing a bad debt deduction in the amount of $270,000 claimed by the petitioner.
Findings of Fact
The parties have filed a stipulation of facts and those facts are incorporated herein by this reference. Other facts are found from the evidence adduced...
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