ATKINS, Judge:
The respondent determined deficiencies in income tax for the taxable years ended October 31, 1955, and October 31, 1957, in the respective amounts of $28,709.63 and $144,543.20.
The issue presented is whether, under the particular circumstances here involved, the petitioner is entitled to deduct as an ordinary and necessary business expense for the taxable year ended October 31, 1957, the cost of a new printing press. Involved is the...
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