Memorandum Findings of Fact and Opinion
HOYT, Judge:
The respondent determined deficiencies in the petitioner's income taxes in the amounts of $4,440.73 and $575.70 for the calendar years ended December 31, 1955 and 1956, respectively.
At time of trial the petitioner waived its assignment of error involving certain claimed depreciation for each of the years. The sole issue remaining is whether respondent erred in disallowing a deduction of $15,931...
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