The respondent determined that the petitioner is liable as transferee of the assets of the Powers Electronic and Communication Company, Inc., for deficiencies in declared value excess-profits and excess profits taxes of the latter in the respective amounts of $3,338.87 and $102,654.05 for the calendar year 1945. Respondent also determined that there was an overassessment in the income tax of the Powers Electronic and Communication Company for the year 1945 in the amount of...
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