Memorandum Findings of Fact and Opinion
This proceeding involves deficiencies in income tax for the years 1945 and 1946 and a fraud penalty for 1945 as follows:
Year Income Tax Penalty 1945 .......... $203,878.04 $101,939.02 1946 .......... 7,911.37 .........
The issues presented are:
1. Whether the conceded amount of $226,961.54 received by petitioner...
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