Respondent disallowed petitioner's applications for relief under section 722 (b) (4) and (c) (3) of the Internal Revenue Code for each of the calendar years 1940, 1941, 1942, 1943, and 1944. The primary issues are whether petitioner commenced business during the base period and, if not, as respondent determined, whether its invested capital was abnormally low.
The stipulated facts are so found.<...
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