This proceeding involves the redetermination of a deficiency in excess profits tax in the amount of $614.21 for the taxable period beginning June 1, 1939, and ended April 30, 1940, in respect of which the petitioner alleges overpayments of $4,057.10 tax and of $27.91 interest. The issues are as follows:
1. Did the petitioner realize income through the forgiveness of certain accrued interest on its bonds, for which it had been allowed deductions on prior returns?<...
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