Memorandum Findings of Fact and Opinion
The respondent determined deficiencies in income tax and 50 per cent penalties as follows:
Year Deficiency 50% Penalty 1942........... $15,932.77 $ 7,966.39 1943........... 39,087.49 19,543.75 1944........... 28,143.12 14,071.56
The petition assigns as error the respondent's failure to allow deductions for the full amount of expenses of operating...
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