Memorandum Findings of Fact and Opinion
The Commissioner has determined a deficiency of $860.75 in declared value excess profits tax and a deficiency of $9,276.75 in excess profits tax in petitioner's return for the year 1942. The deficiencies are due in principle part to the refusal of the Commissioner to allow the deduction of a bad debt loss of $13,000, as reported by petitioner in its 1942 return. The petitioner contends that the Commissioner erred in refusing...
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