Memorandum Findings of Fact and Opinion
LEECH, Judge:
Respondent has determined deficiencies in income tax of $39,865.96 and $36,936 for the taxable years 1946 and 1947, respectively, declared value excess-profits tax in the amounts of $5,769.12 and $5,817.79 for the taxable years 1944 and 1945, respectively, and excess-profits tax in the amounts of $36,237.03 and $45,385.19 for the taxable years 1944 and 1945, respectively.
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