Memorandum Findings of Fact and Opinion
ATKINS, Judge:
The respondent determined a deficiency in income tax of $46,065.05 for the taxable year ended March 31, 1954.
The question presented is whether the petitioner is entitled to a deduction of $89,912.52 as a result of the termination of its business relations with another corporation, Fairway Mfg. Co.
Findings of Fact
Some of the facts were stipulated and the stipulations are incorporated...
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