LEWIS ENGINEERING, INC. v. COMMISSIONER

The respondent determined a deficiency in the income tax of petitioner for the year 1957 in the amount of $30,111.85. The adjustments to income are as follows:

Taxable income shown on return --------------------------------   $62,290.82
Additional income and unallowable deduction:
 (a) Value of property received ------------------   $50,500.00
 (b) Depreciation disallowed ---------------------     7,407.41
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