Memorandum Findings of Fact and Opinion
Respondent determined a deficiency of $34,077.23 in petitioners' income taxes for the calendar year 1944. Most of the adjustments arise from respondent's determination "that the method of accounting employed by the partnership, H. W. Lancaster and Company, does not clearly and properly reflect its income. Section 41 of the Internal Revenue Code." The Commissioner has adjusted petitioners' income from the partnership as reported...
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