The respondent determined a deficiency of $657.53 in petitioner's income tax and a deficiency of $3,503.71 in its excess profits tax for the taxable year ended June 30, 1945. The deficiencies resulted from the respondent's determination that the petitioner was not entitled to deduct from its gross income for the taxable year an accrual of $38.95 for New York State franchise tax, nor the amount of $1,000 of $3,900 claimed as compensation of Esther Jacobson, an officer-stockholder...
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