Respondent determined a deficiency of $14,844.71 in income tax for the calendar year 1950. The question presented is the propriety of petitioner's practice, when reporting income, of eliminating certain items from book inventories and deducting those items directly on its returns.
FINDINGS OF FACT.
Some of the facts have been stipulated and are hereby found.
Petitioner is an Ohio corporation with its principal office and place of business in Cleveland...
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