Respondent determined a deficiency in income tax of petitioner in the amount of $16,959.40 for the year 1955.
The sole question is whether petitioner overstated its cost basis in computing depreciation and gain on sale with respect to certain assets which it purchased in 1955.
FINDINGS OF FACT
Some of the facts have been stipulated, and, as stipulated, they are incorporated herein by reference.
Albany Car Wheel Company, Inc., the petitioner...
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