The respondent has determined deficiencies in petitioner's excess profits taxes for 1942 and 1943 in the amounts of $4,895.44 and $11,777.33, respectively. Separate proceedings were brought for each year and by agreement of the parties the proceedings were consolidated for hearing.
The issues involved in these proceedings are as follows (1) whether in determining petitioner's equity invested capital there should be included the value of land donated to petitioner...
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