The respondent determined a deficiency in the income tax of the petitioner for the fiscal year ended January 31, 1947, in the amount of $826.53. The issues presented are whether rental expenses should be reduced in the amount of an allowance made by a lessor to the petitioner to replace and repair rented equipment, and whether the petitioner's deductions for contributions are in excess of the statutory limitation.
FINDINGS OF FACT.
The facts stipulated are...
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