Memorandum Opinion
MULRONEY, Judge:
Respondent determined a deficiency in petitioner's 1960 income tax in the amount of $17,262.40. The deficiency arises by reason of respondent disallowing as a repair expense the sum of $33,196.92 paid by petitioner water company in 1960 to clean and cement line 6,038 feet of cast iron pipe in its water distribution system. Respondent's notice of deficiency states it is determined the $33,196.92 was a capital expenditure...
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