This proceeding involves deficiencies in income tax for the calendar years 1936, 1937, 1939, and 1940 in the amounts of $49,337.17, $15,638.47, $8,876.41, and $26,585.54, respectively.
The respondent made only one adjustment to the net income reported by petitioner for each of the taxable years involved. That adjustment was an addition to the net income so reported of all the remaining undistributed annual net income for each of the years involved of a trust created...
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