This case involves income tax for the calendar years 1940 and 1941 and excess profits tax for 1941. A deficiency of $12,165.81 in excess profits tax was determined for 1941, and overassessment of income tax was determined of $288 for 1940 and $2,490.62 for 1941. The petition prays for a refund of $40,951.37 for the year 1941. The general issue presented is whether the petitioner, in computing excess profits tax, was entitled to have certain deductions of expense incurred...
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