Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in income tax for the fiscal year ending January 31, 1946, in the amount of $1,578.51. The sole issue is whether petitioner's payment of $4,000 to the Treasurer of the United States for O. P. A. violations is deductible as an ordinary and necessary business expense.
Some of the facts were stipulated.
Findings of Fact
The stipulated facts are so found and are...
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