This proceeding involves deficiencies in declared value excess-profits and excess profits tax for 1943 in the amounts of $11,592.01 and $89,686.38, respectively, and a deficiency of $77.41 in income tax for 1944. The issue is whether prepaid subscriptions for the daily newspaper published by petitioner, which kept its books on an accrual basis, are taxable in the year of receipt of the payments.
FINDINGS OF FACT.
The oral stipulations of facts of the parties...
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