The respondent determined deficiencies of $1,111.66 and $222.11 in the petitioner's income and excess profits tax, respectively, for the taxable year beginning November 15, 1945, and ended August 31, 1946. The only issue presented is the correctness of the respondent's action in disallowing a deduction of $5,000 taken by the petitioner for legal expense.
FINDINGS OF FACT.
Such of the facts as were stipulated are found accordingly.
The petitioner...
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