Memorandum Findings of Fact and Opinion
Respondent determined "a deficiency in penalty of $845.12" for the taxable year ended May 31, 1943, under section 291 of the Internal Revenue Code, asserting that petitioner failed to file a corporation income and declared value excess profits tax return (Form 1120) for the fiscal year involved.
Petitioner has admitted income tax liability for the fiscal year in the...
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