Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioner's income tax for its fiscal year ended May 31, 1963, in the amount of $3,129.79.
The issues for decision are:
(1) Whether respondent properly disallowed a portion of the deduction for depletion claimed by petitioner because of computing its depletion on a percentage instead of a cost depletion basis.
(2) Whether a deduction in the...
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