These proceedings, duly consolidated, involve determinations by the respondent of deficiencies in income tax against petitioners for the calendar year 1937 in the amounts of $15,390.56 and $15,322.28, respectively.
The above deficiencies are computed upon determined net incomes of $68,082.97 and $67,875.82, respectively. In a statement attached to the deficiency notice mailed to petitioner Johnston the respondent explained his determination of the net income as follows...
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