The Commissioner determined a deficiency in petitioner's income tax in the amount of $16,407.82 for the year 1954.
The principal question presented is whether petitioner is entitled to a deduction for amortization of bond premium under section 171 of the 1954 Code in respect of a transaction involving the acquisition and disposition of certain bonds. Other questions relating to that transaction involve the deductibility of interest, stamp taxes, and a fee paid to...
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