The respondent determined deficiencies of $9,957.04 in income tax and $6,996.90 in excess profits tax for the year 1938. The deficiencies are due in part to the inclusion in the petitioner's income for the taxable year of profits from building construction contracts in the amount of $46,643.71, and to the disallowance of $12,000 of a deduction claimed for salaries paid to the petitioner's officers. The questions for determination are (1) whether the contracts were completed...
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