The Commissioner has determined a deficiency in petitioner's excess profits tax for the fiscal year ended January 31, 1945, of $30,957.68. The petition states that $12,873 of this amount is in dispute. The only adjustment which is contested is respondent's adjustment to net income of $16,500 which was explained in a statement attached to the deficiency notice, as follows:
(a) Legal, recapitalization expenses are held to constitute capital expenditures and excluded...
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