The Commissioner determined deficiencies in income tax for the taxable years 1952 and 1953 in the amounts of $12,469.23 and $9,725.83, respectively. The question is whether, under section 23(r) (1), 1939 Code, dividends declared by petitioner on its earnings for the 6-month period ended December 31, 1951, are deductible in 1952.
FINDINGS OF FACT.
Petitioner is a Federal savings and loan association. Its office is located in Chester, West Virginia. Petitioner...
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