The Commissioner determined a deficiency in petitioner's excess profits tax in the amount of $2,997,824.72 for the year 1942. The issues are (1) whether repayment during 1942 of certain moneys received by petitioner from the Chief of Ordnance, War Department, under three war contracts to purchase and install machinery for the St. Louis Ordnance Plant and to manufacture cartridges at New Haven, Connecticut, entitled petitioner to a credit for debt retirement under section...
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