OPINION.
BRUCE, Judge:
Respondent determined deficiencies in petitioner's income tax for the years 1949 and 1950 as follows:
Year Deficiency 1949 ----------------------------------- $1,654.62 1950 ----------------------------------- 4,404.06
Petitioner concedes its liability for the full amount of the deficiency for the taxable year 1949. The sole issue is whether...
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