Memorandum Findings of Fact and Opinion
MULRONEY, Judge:
Respondent determined a deficiency in income tax of petitioner for the taxable year 1952 in the amount of $16,823.17.
The respondent disallowed an item of $64,500 which the Von Hoffmann Corporation, hereinafter referred to as the petitioner, took as a bad debt deduction in 1952. The sole issue in this case is whether the item disallowed can properly be deducted as a bad debt; as contended by...
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