Memorandum Findings of Fact and Opinion
JOHNSON, Judge:
Respondent determined a deficiency in petitioner's 1949 income tax in the amount of $4,568.48. The sole issue is whether petitioner's claimed deduction for an addition to its reserve for bad debts in 1949 was reasonable.
Findings of Fact
Some of the facts are stipulated and are incorporated herein by this reference.
Petitioner, a corporation, was organized under the laws of...
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