Memorandum Findings of Fact and Opinion
DISNEY, Judge:
This proceeding involves deficiencies in income and excess profits taxes for the calendar year 1939, determined by the Commissioner in the respective amounts of $3,108.31 and $753.50. The only issue for decision is whether petitioner is entitled to a deduction in the amount of $10,306.98 for either capital loss or worthless debt.
Findings of Fact
The petitioner is a business corporation...
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