Memorandum Findings of Fact and Opinion
Petitioner challenges the respondent's determination of a deficiency in income tax for the year 1940 in the amount of $965.11 and claims an overpayment for that year of $92.99. Decision turns upon whether certain payments made in the taxable year to the widow of one of petitioner's former officer-stockholders are deductible as ordinary and necessary business expenses.
Findings of Fact
Petitioner is a Vermont...
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