Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency of $28,258.90 in the income tax of the petitioner for its fiscal year ended June 30, 1960. The petitioner alleges that the Commissioner erred in reducing the amount claimed as cost of goods sold. It also alleges that if any additional Federal income tax is due then the amount should be adjusted for the additional Massachusetts Excise Tax which would then become due.
It is stipulated...
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