PIERCE, Judge:
Respondent determined a deficiency of $25,784.43 in the income tax of the above-named petitioner corporation for its fiscal year ended September 30, 1956.
The sole issue for decision is whether, for said taxable year, the petitioner corporation is entitled to exemption from Federal income tax under section 501 (c) (4) of the 1954 Code. This section, in material part, provides exemption for:
(4) Civic leagues or organizations not...
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