The respondent has determined a deficiency of $55,867.94 in petitioner's income tax for the calendar year 1943. The petitioner contests that part of the deficiency resulting from the disallowance of a worthless debt deduction in the amount of $324,698.41 claimed for the calendar year 1943.
FINDINGS OF FACT.
The petitioner is a Rhode Island banking corporation with its principal place of business in Providence, Rhode Island. The petitioner is a member of...
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