Memorandum Findings of Fact and Opinion
LEECH, Judge:
This report supersedes the memorandum findings of fact and opinion in this proceeding entered on November 29, 1946 [5 TCM 998, Dec. 15,499(M)] and, upon the motion of petitioner, vacated December 12, 1946. The proceeding involves deficiencies in income tax of $1,844.58 and excess-profits tax in the amount of $719.97 for the year 1940. The only issue submitted is whether the respondent, having adjusted...
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