The Commissioner determined a deficiency of $19,374.50 in petitioner's excess profits tax for 1943 in part by adding to income reported a gain on the sale of petitioner's own shares, acquired and held in its treasury, to stockholders and employees. He also disallowed an addition to a reserve for bad debts. Petitioner contends that its sale of shares was a nontaxable capital transaction and that its addition to the bad debt reserve was reasonable and deductible. It also assigns...
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