Memorandum Findings of Fact and Opinion
ARNOLD, Judge:
The Commissioner determined deficiencies in income and excess profits taxes for 1937 of $310.63 and $273.20, respectively. The sole issue presented is whether petitioner is entitled to accrue a $2,500 deduction as an ordinary and necessary business expense, representing a reasonable allowance for salaries of two of its employees.
Findings of Fact
Petitioner is a New Jersey corporation...
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