By this proceeding petitioner seeks a redetermination of a deficiency in excess profits tax of $18,382.89 for the year ended January 31, 1944.
The only litigated question is whether petitioner is entitled to a deduction under Internal Revenue Code, section 23 (a) (1) (A) or (f), for the sum of $18,421.86 paid to former creditors of petitioner's subsidiary corporation which had undergone a section 77B reorganization.
The case was presented on a stipulation...
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