The only issue presently in dispute, arising out of respondent's determination of a $48,762.07 deficiency in petitioner's income and excess profits tax for the taxable year ended September 30, 1954, is whether petitioner was entitled to accrue a $75,000 deduction for that year with respect to royalties allegedly due and owing Radio Corporation of America under a patent license agreement.
FINDINGS OF FACT.
Certain facts have been stipulated and are incorporated...
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