Memorandum Findings of Fact and Opinion
Respondent determined deficiencies in income tax of petitioner in the amounts of $12,386.85 for the fiscal year ending February 29, 1960 and $14,822.35 for the fiscal year ending February 28, 1961.
The sole question for decision is whether the salaries paid by petitioner to its president and secretary constitute reasonable compensation for services rendered.
Findings of Fact
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