Memorandum Opinion
MULRONEY, Judge:
Respondent determined a deficiency in income tax of petitioner for the fiscal year ending May 31, 1952 in the amount of $22,800. The entire deficiency results from respondent's disallowance of a bad debt deduction which petitioner took on its 1952 income tax return. The correctness of such disallowance is the single question presented. The record presents a set of facts, most of which were stipulated, upon which there...
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