United States Tax Court.
MULRONEY, Judge:
The respondent determined deficiencies in income tax of petitioner for the fiscal years ended November 30, 1953, 1954, and 1955, in the amounts of $11,100.55, $16,124.23, and $22,433.53, respectively.
The sole issue is whether amounts which a financial institution, discounting petitioner's paper, credited during the years in issue on its books to the reserve account of petitioner, on an accrual basis of accounting, are excludible from...
