The Commissioner denied petitioner's application for excess profits tax relief under section 722 for the years 1941 and 1942 and determined excess profits tax liability of $4,048.16 for 1941 and a deficiency of $7,692.79 in 1942, notice of which was sent in accordance with sections 272 and 732 of the Internal Revenue Code. The issue for our determination is whether petitioner is entitled to relief under the provisions of subsections (b) (1) and (b) (5) of section 722 of the...
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