Memorandum Findings of Fact and Opinion
Respondent determined deficiencies in income tax of petitioners for the years 1955 and 1956 in the amounts of $30,881.19 and $20,640, respectively.
The sole issue for decision is whether petitioner Charles W. Nichols is entitled to deductions of $44,000 claimed in his returns for each of the years 1955 and 1956 for "business promotional expenses."
Findings of Fact
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