Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency in income tax of $10,249 and one in declared value excess-profits tax of $3,884.42 against the petitioner for 1944. The only issue for decision is whether the petitioner is entitled to a deduction of $21,000 for 1944 representing interest on 7 per cent income notes.
Findings of Fact
The petitioner is a New York corporation which filed its returns for 1944 with the...
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