OPINION.
MURDOCK, Judge:
The Commissioner determined deficiencies of $13,363.71 and $871.98 in income tax and declared value excess profits tax for the calendar year 1940. The only error assigned is as to his disallowance of a deduction in the amount of $55,532.72. The facts have been stipulated and the stipulation is adopted as the findings of fact.
The petitioner is a corporation. Its return for 1940 was filed with the collector of internal...
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