The respondent determined a deficiency in petitioner's income tax liability for the year 1941 in the amount of $26,779.90. The parties have disposed of one issue under a stipulation which will be given effect under Rule 50. Petitioner has waived one claim for depreciation deductions on certain property.
Petitioner is a member of a copartnership which carries on business under the name of "Truman Bowen Company and J. L. McLaughlin." Respondent has determined that the...
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