The Commissioner determined deficiencies in income tax and declared value excess-profits tax for the taxable year ended July 31, 1945, in the amount of $445,624.22 and $70,130.38, respectively. The Commissioner has conceded error in one of his adjustments. There remains for decision the question of the amount of the foreign tax credit to which petitioner is entitled under section 131 (f) of the 1939 Code.
FINDINGS OF FACT.
The stipulated facts are found...
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