Memorandum Findings of Fact and Opinion
KERN, Judge:
Respondent determined deficiencies in petitioner's income tax liability for the years 1938 and 1939 in the respective amounts of $9,159.87 and $1,182.73, and a deficiency in petitioner's excess-profits tax liability for the year 1938 in the sum of $3,611.65. These deficiencies result from respondent's disallowance of deductions for percentage depletion for the taxable years on the ground that under section...
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