Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in petitioner's income tax for the taxable year 1946 in the amount of $1,225.53. The deficiency resulted from three adjustments increasing petitioner's net income. Petitioner alleges error with respect to two of respondent's adjustments, namely, whether the amount paid its officers as compensation for their services should be reduced from $26,150 to $20,150; and, whether the taxable gain...
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