The Commissioner has determined deficiencies in petitioner's excess profits tax for the fiscal years ended June 30, 1943 and 1944, in the respective amounts of $1,752.55 and $1,996.84. The only tax liability involved in this proceeding is the Federal excess profits tax liability of the petitioner.
The issue in this proceeding is whether the face amounts of certain drafts credited to petitioner's account by the Northwestern National Bank before collection were borrowed...
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