The respondent determined a deficiency in income tax against petitioner for the calendar year 1948 in the amount of $27,090.36. Petitioner, by amended petition, claims an overpayment of $3,381.10. The question is whether petitioner is entitled to a business bad debt deduction.
FINDINGS OF FACT.
Petitioner is an individual with principal office in New York, New York. He and his wife filed a joint return for 1948 with the collector of internal revenue for...
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