The Commissioner determined deficiencies in petitioner's income and declared value excess profits taxes for the calendar year 1940 in the amounts of $43,479.75 and $3,192.54, respectively.
Of the six issues originally involved, respondent has conceded error with respect to one, and another was resolved by stipulation that the amount to be added to petitioner's taxable income for 1940 on account of the disallowance of a deduction for New York City sales and personal...
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