The respondent has determined excess profits tax deficiencies against the petitioner for the calendar years 1941 and 1942 of $11,624.36 and $85,459.52, respectively. The petitioner has abandoned a claim that the respondent erred in disallowing a deduction of $98,563.81 for the year 1942, for obsolescence of certain patents. The only question for determination is the correctness of the respondent's disallowance as equity invested capital of an amount claimed for property paid...
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