Memorandum Findings of Fact and Opinion
BRUCE, Judge:
Respondent determined deficiencies in income tax for the fiscal years ended September 30, 1962, and September 30, 1963, in the respective amounts of $4,916.07 and $1,556.96. The issues for decision are: (1) whether certain deposits made by petitioner's customers on contracts for custom-made furniture to be manufactured constituted taxable income to petitioner, an accrual basis corporation, at the time...
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