The Commissioner determined deficiencies in income tax for the years 1936, 1937, and 1938 in the amounts of $68,025.53, $125,216.29, and $429.91, respectively. Petitioner contests the correctness of the determination only with respect to the years 1936 and 1937, alleging that respondent erred in denying credits equal to its adjusted net income for those years on the basis of a contract restricting the payment of dividends. In the alternative petitioner contends that it is...
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