Memorandum Findings of Fact and Opinion
The respondent determined a deficiency of $2,133.69 in the excess profits tax liability of petitioner for the year 1943. He also determined an overassessment of $443.67 in income tax liability for the same year.
The sole question involved is whether petitioner is entitled to deduct as an ordinary and necessary business expense amounts paid to a former employee of the corporation. The parties entered into a stipulation...
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