DAWSON, Judge:
Respondent determined a deficiency in the income tax of petitioner for the year 1955 in the amount of $110,240.
The principal question for our consideration is whether an intercompany profit of $1,065,313.09 obtained in 1954 by Ridgeview Management Co., and eliminated from a consolidated return for that year, constituted earnings and profits of Ridgeview Management Co. when received, so that a distribution by Ridgeview Management Co....
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