Memorandum Findings of Fact and Opinion
MULRONEY, Judge:
The respondent determined a deficiency in petitioner's income tax of $17,092.12 for the year 1953. The issues are: whether respondent correctly disallowed petitioner's claimed deduction as a bad debt of $20,000 advanced to a corporation in which he was a stockholder, bondholder, officer and director; a deduction of $2,869.89 as travel and entertainment expenses in connection with the corporation; and...
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