Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in petitioners' income tax in the amount of $1,486.32 for the year 1950. The deficiency was based upon an understatement of dividends received by the petitioners from the Avondale Building Corporation, and it was conceded by the petitioners at the hearing that there was an understatement in the amount computed by the respondent. A timely claim for refund was filed on July 21, 1953 by...
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