Memorandum Findings of Fact and Opinion
HILL, J.:
This proceeding is for a redetermination of an income tax deficiency of $3,149.38 for the calendar year 1938. Respondent concedes that $3,253.17 additional depreciation should be allowed as a deduction from petitioners' gross income. The petitioners concede that $800 out of the sum of $1,332.50 claimed by them as a deduction for interest may be disallowed and the respondent concedes that the balance of $532...
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