Memorandum Findings of Fact and Opinion
The respondent determined deficiencies of $19,025.09 in income tax for 1942 and $12,696.80 in excess profits tax for 1943. The respondent also determined an over-assessment of $5,253.43 in its income tax for 1943.
Certain issues were settled by stipulation leaving in controversy the following:
(1) The right of the petitioner to deduct from its gross income for the year 1942 a bad debt of $29,465 due from the...
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