Respondent has determined deficiencies in the income taxes of petitioner Glasgow Village Development Corporation for the taxable years 1954 through 1957 in the amounts of $14,799.88, $24,558.16, $3,853.98, and $16,639.08, respectively. Respondent has also determined deficiencies in the joint individual income taxes of petitioners Clarence T. and Jewel D. Wilson for the years 1955 and 1956 in the amounts of $11,416.72 and $10,363.94, respectively.
Certain concessions...
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