Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency in income tax for the year 1947 in the amount of $10,838.94. The petitioner concedes that certain adjustments are correct.
The sole issue is whether petitioner is entitled to deduct as an ordinary and necessary business expense the sum of $16,519.64, the cost of constructing a fireproof passageway in a theatre. In the alternative, petitioner claims that it is entitled to a deduction...
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