Memorandum Findings of Fact and Opinion
In this proceeding respondent determined income tax deficiencies for 1940 of $3,637.72; for 1941, $3,280.90, plus a 10 per cent delinquency penalty of $328.09; and for 1942, $18,740.38. He also determined a deficiency in declared value excess profits tax for 1942 in the amount of $41.62. Petitioner claims an overpayment for 1942.
The questions presented are: (1) Whether petitioner is entitled to deduct a bad debt loss...
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