Memorandum Findings of Fact and Opinion
JOHNSON, Judge:
Respondent determined a deficiency of $25,669.05 in excess profits tax for the calendar year 1944.
The issues are: (1) whether respondent erred in decreasing petitioner's equity invested capital from $375,000 to $75,000 to compute its excess profits credit for the calendar years 1942, 1943 and 1944; (2) whether respondent erred in determining that the forgiveness by the mortgagee of indebtedness...
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