Memorandum Opinion
SMITH, J.:
This proceeding is for the redetermination of deficiencies in income tax for 1936 and 1937 of $1,002.46 and $816.74, respectively. The petition alleges that the respondent erred in the determination of the deficiencies by failing to allow it credits under section 26 (c) of the Revenue Act of 1936 equal to its entire undistributed net income for those years on account of a contract outstanding which restricted or prevented the...
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