WITHEY, Judge:
A deficiency in income tax has been determined by the Commissioner against petitioners for the taxable year 1963 in the amount of $12,364.28.
The only issue to be decided is whether respondent has erred in disallowing as an ordinary and necessary business expense deduction the amount paid by petitioner to his employer in response to an alleged violation of section 16 (b) of the Securities Exchange Act of 1934 and allowing the deduction...
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