Respondent determined deficiencies in petitioner's income, declared value excess-profits, and excess profits taxes for the fiscal year ended June 30, 1946, in the respective amounts of $18,355.08, $13,116.87, and $29,414.92, together with a penalty of $1,470.75 for failure to timely file the excess profits tax return for that year. Three questions are presented for our determination in this proceeding:
1. Did petitioner realize any income in the fiscal year ended...
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