TANNENWALD, Judge:
Respondent determined a deficiency in petitioner's income tax as transferee of Credit, Inc., for the period of August 1, 1959, to February 9, 1960, in the amount of $2,375.12. Petitioner has conceded liability as transferee for any deficiency determined herein against Credit, Inc., and has further conceded liability of Credit, Inc., for so much of the deficiency as is not related to the issue involved herein. That issue is the deductibility...
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