Memorandum Findings of Fact and Opinion
Respondent determined deficiencies in petitioners' income taxes for the years 1954, 1955, and 1956 in the respective amounts of $5,800.52, $1,898.60, and $3,703.58.
The deficiencies here in issue arise by reason of respondent's disallowance of a deduction claimed by petitioner in 1956 on account of a business bad debt in its full amount of $73,990.06 resulting in a business profit instead of loss for that year, and...
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