Memorandum Findings of Fact and Opinion
DAWSON, Judge:
Respondent determined a deficiency in the income tax of petitioners for the year 1958 in the amount of $1,886.44.
The sole issue for determination is whether the sum of $5,000 expended by petitioner C. Franklin Hubble in connection with his acquisition of the Neblett Insurance Agency is properly deductible as advertising expense under section 162 of the Internal Revenue Code of 1954, or, as contended...
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