The respondent has determined deficiencies in income tax, declared value excess profits tax, and excess profits tax against the petitioner for the year 1941 in the respective amounts of $1,204.98, $3,168.85, and $33,521.70.
The questions presented are (1) whether respondent correctly disallowed salary deductions claimed for two of petitioner's principal stockholder-officers, under the provisions of section 23 (a) of the Internal Revenue Code, and (2) whether an excess...
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