Memorandum Findings of Fact and Opinion
HARRON, Judge:
The Commissioner determined a deficiency in excess profits tax for the fiscal year ended August 31, 1943, in the amount of $1,203,439.85. Part of the deficiency is contested. There are two issues for decision, as follows: (1) Whether, in the instance of a subsidiary, Automatic Machinery Manufacturing Corporation, Automatic's closing inventory at December 22, 1942, as used to determine its cost of goods...
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