Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency in income tax for the fiscal year ending October 31, 1949 of $2,884.64.
The issues for decision are whether advances aggregating $19,826.33 made by petitioner to a corporation in which he was a principal stockholder represent contributions to capital or a business or nonbusiness bad debt which became worthless in the taxable year.
Findings of Fact
John W. Rope...
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