Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency for 1937 of $80,217.45 income tax and $21,192.86 excess-profits tax.
The issues are: (1) Whether the determination of deficiency was arbitrary; (2) whether a profit from the sale of assets is taxable to petitioner; (3) whether petitioner is entitled to a deduction of $9,500, legal and accounting expenses of dissolution and liquidation; (4) whether the aforesaid profits should...
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