Memorandum Findings of Fact and Opinion
HARRON, Judge:
The Commissioner has determined a deficiency in petitioner's income tax for the year 1944 of $124,413.34. The deficiency is based upon a determination that petitioner's gross receipts from his business were understated by $148,223.02, which sum is the amount of "cash payouts" for purchases and expenses made by petitioner during 1944, in connection with the operation of his business. The respondent has...
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