Memorandum Findings of Fact and Opinion
GOFFE, Judge:
The Commissioner determined deficiencies in petitioner's Federal income tax for its taxable years ending August 31, 1971 and August 31, 1972, in the respective amounts of $870.13 and $16,917.38. After concessions by petitioner, the only issue before us is whether petitioner may deduct, either as an ordinary and necessary business expense or as interest expense, certain payments made by it in its taxable...
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