This case involves a deficiency in income tax of $2,903.43 and in excess profits tax of $45,449.49 for the year 1943 as determined by the respondent in his notice of deficiency. By way of amended answer, respondent claims these deficiencies for 1943 should be increased in the amounts of $925.56 in income tax and $156,913.69 in excess profits tax.
The principal question for determination is whether the respondent, in determining petitioner's income tax liability for...
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