Respondent determined deficiencies in petitioner's income taxes of $5,683.78 and excess profits taxes of $3,570.07 for the fiscal year ended February 28, 1946. These deficiencies result from an adjustment to net income which is explained in the deficiency notice as follows:
Adjustments to Net Income Taxable Year Ended February 28, 1946 Net income as disclosed by return -------------------------- Loss...
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