Memorandum Findings of Fact and Opinion
The Commissioner determined deficiencies in excess profits taxes of $18,787.88 and $8,933.65 for 1942 and 1943, respectively. The issues are whether he erred (1) in disallowing deductions taken in both years for additions to a reserve for bad debts and (2) in adding to 1942 income an excess of capital stock tax accrued in 1941.
Findings of Fact
The petitioner is a Missouri corporation organized in 1927 with...
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