Memorandum Opinion
JOHNSON, Judge:
This proceeding involves deficiencies in excess profits tax for the years 1942, 1943, 1944 and 1945 in the respective amounts of $117,864.21, $19,661.55, $45,163.31 and $12,069.39. The issue is whether dividends of common stock on common stock distributed prior to March 1, 1913, are includible in equity invested capital under section 718(a)(3) of the Internal Revenue Code of 1939.
All of the facts are set forth...
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