MARSHALL, Circuit Judge:
The issue on this petition is whether the taxpayer, a typical family corporation, is entitled to a deduction of $2,400 on its income tax return for the fiscal year ending Ocober 31, 1959 for payments to Florence Schner, widow of the founder of the corporation and holder of 200 shares of its preferred stock. Petitioner claims that this deduction was proper under sections 404(a) (5) and 162 of the Internal Revenue Code of 1954; respondent relies...
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