Respondent determined deficiencies in excess profits tax for the fiscal years ended September 30, 1944, and September 30, 1945, in the respective amounts of $13,158.08 and $1,004.96 and in income tax for the fiscal year ended September 30, 1945, in the amount of $15,537.89.
In petitioner's income and excess profits tax returns for the fiscal year ended September 30, 1944, petitioner used its asserted cost of its assets in computing its basis for depreciation and equity...
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