Memorandum Findings of Fact and Opinion
JOHNSON, Judge:
This proceeding involves a deficiency of $1,111.50 in excess profits tax for 1945. The issue is whether the respondent erred in disallowing $1,300 of the amount petitioner deducted as salary of its president. Petitioner's excess profits tax return for 1945 was filed with the collector of internal revenue for the district of Arkansas.
Findings of Fact
Petitioner, an Arkansas corporation...
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