The Commissioner determined deficiencies in Federal income taxes of petitioners, John and Margaret Ernst, for the taxable years 1948 and 1949 in the respective amounts of $24,469.50 and $53,659.10.
The deficiency for 1948 results in greater part from respondent's determination that petitioners, who operated a poultry farm, were not entitled to deduct in that year $20,532.50 paid in that year for chicken feed which was not delivered until the next year. The deficiency...
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