Memorandum Findings of Fact and Opinion
ARNOLD, Judge:
This case involves an income tax deficiency for the calendar year 1943 in the sum of $7,358.10. The principal issue is whether petitioner is entitled to a net operating loss deduction in 1943, representing a net operating loss carry-over from the calendar year 1942. In computing its net operating loss for 1942 petitioner deducted $31,567.81 as an alleged bad debt of, and $1,300 as an alleged loss on...
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