Memorandum Findings of Fact and Opinion
The respondent determined income tax deficiencies against the petitioner for the calendar years 1938 and 1939 in the respective amounts of $1,568.65 and $1,048.67.
The first issue raised by the pleadings is whether or not the respondent erred in refusing to allow deduction for depletion on an oil royalty in amounts of $15,358.69 and $14,286.26 for the years 1938 and 1939, respectively. The second issue raised at the...
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