Respondent determined a deficiency in income tax for the taxable year 1943 in the amount of $1,209.03. The sole issue presented is whether petitioner is entitled to a deduction for $6,456.02 paid by petitioner to the Wigton-Abbott Corporation in 1943, pursuant to a written promise to indemnify the corporation for any loss resulting from its purchase of 200 shares of stock of Columbia Gas & Electric Co. in 1931.
FINDINGS OF FACT.
Petitioner is an individual...
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