Respondent determined a deficiency of $18,504.93 in petitioner's income (excess profits) tax for its taxable year ended October 31, 1951. The only issue is whether petitioner is entitled to compute its excess profits tax as a new corporation under section 430 (e) (1), I. R. C. 1939.
FINDINGS OF FACT.
Certain facts are stipulated and are hereby found.
Petitioner, chartered under the laws of the State of Delaware on September 30, 1948, maintained its...
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