This proceeding involves a deficiency in income tax of the petitioner for the year 1951 in the amount of $86,323.36.
The questions are: (1) Whether the amount of $90,000 paid in the settlement of the controversy as to the amount to be paid for a paper machine constructed by Sandy Hill Iron & Brass Works for the petitioner is a capital expenditure; (2) whether the amount of $6,802.98 for parts and labor to reconstruct the rope carrier originally installed by Sandy...
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