This proceeding was brought for a redetermination of a deficiency of $6,891.23 in petitioner's income tax for its fiscal year ended July 31, 1943.
An issue raising the statute of limitations having been conceded by petitioner, the remaining issues are (1) whether respondent erred in denying petitioner a deduction of the cost of an electric baking oven and equipment claimed to be an ordinary and necessary business expense or an abandonment loss; and (2) whether respondent...
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